Advantage Alpha Capital Partners LP Invests $5.95 Million in CECO Environmental Corp. (NASDAQ:CECO)

Advantage Alpha Capital Partners LP purchased a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 196,904 shares of the company’s stock, valued at approximately $5,952,000. CECO Environmental makes up 1.4% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 21st biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in CECO. Principal Financial Group Inc. increased its position in CECO Environmental by 17.6% during the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after buying an additional 3,330 shares during the last quarter. Quest Partners LLC bought a new stake in shares of CECO Environmental during the 3rd quarter worth about $69,000. First Horizon Advisors Inc. increased its holdings in shares of CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after acquiring an additional 591 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CECO Environmental by 185.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after acquiring an additional 152,893 shares in the last quarter. Finally, FMR LLC lifted its holdings in CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock worth $22,174,000 after purchasing an additional 149,777 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $24.31 on Monday. The business’s 50 day moving average is $26.36 and its 200-day moving average is $27.81. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $850.61 million, a PE ratio of 73.67, a PEG ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a 1-year low of $20.00 and a 1-year high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Sell-side analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Richard F. Wallman acquired 1,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the purchase, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CECO shares. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $33.00 price objective on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum raised their target price on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Northland Securities upped their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.20.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.