Perritt Capital Management Inc Sells 5,000 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Perritt Capital Management Inc lessened its position in CECO Environmental Corp. (NASDAQ:CECO) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. Perritt Capital Management Inc’s holdings in CECO Environmental were worth $453,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in CECO Environmental by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 691,705 shares of the company’s stock worth $20,916,000 after purchasing an additional 2,218 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of CECO Environmental by 15.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 445,352 shares of the company’s stock valued at $13,463,000 after buying an additional 61,156 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of CECO Environmental by 15.3% during the 4th quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company’s stock worth $511,000 after acquiring an additional 2,236 shares during the period. Cruiser Capital Advisors LLC boosted its stake in shares of CECO Environmental by 9.7% during the 4th quarter. Cruiser Capital Advisors LLC now owns 43,570 shares of the company’s stock worth $1,317,000 after acquiring an additional 3,868 shares during the period. Finally, Advantage Alpha Capital Partners LP acquired a new position in shares of CECO Environmental during the 4th quarter worth approximately $5,952,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CECO. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum lifted their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities increased their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 price objective on shares of CECO Environmental in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Insiders Place Their Bets

In other news, Director Richard F. Wallman purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $25.15 per share, with a total value of $25,150.00. Following the acquisition, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total transaction of $135,264.15. Following the completion of the transaction, the insider now directly owns 84,660 shares in the company, valued at $2,044,539. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.90% of the company’s stock.

CECO Environmental Trading Up 1.3 %

CECO stock opened at $23.09 on Wednesday. CECO Environmental Corp. has a 52 week low of $20.00 and a 52 week high of $35.16. The company has a market capitalization of $807.92 million, a PE ratio of 69.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company’s 50-day simple moving average is $25.40 and its 200 day simple moving average is $27.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

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

CECO Environmental Profile

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.