Dimensional Fund Advisors LP Sells 179,294 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Dimensional Fund Advisors LP cut its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 8.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,062,316 shares of the company’s stock after selling 179,294 shares during the period. Dimensional Fund Advisors LP owned 5.90% of CECO Environmental worth $59,494,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of CECO Environmental by 247.5% in the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares during the period. Boston Partners bought a new position in CECO Environmental during the first quarter valued at about $516,000. Vanguard Group Inc. increased its stake in CECO Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after acquiring an additional 24,812 shares during the period. Sei Investments Co. increased its stake in CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,614,000 after acquiring an additional 18,272 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in CECO Environmental by 51.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,585 shares of the company’s stock valued at $2,931,000 after acquiring an additional 34,412 shares during the period. 68.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CECO has been the topic of several research reports. Needham & Company LLC boosted their price target on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm boosted their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. HC Wainwright boosted their price target on CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Northland Securities boosted their price target on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Craig Hallum boosted their price target on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.80.

CECO Environmental Stock Up 1.5 %

NASDAQ CECO opened at $29.01 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $27.97 and its two-hundred day moving average is $25.86. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 82.89, a PEG ratio of 1.99 and a beta of 1.33. CECO Environmental Corp. has a 1-year low of $15.27 and a 1-year high of $31.55.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $137.50 million for the quarter, compared to the consensus estimate of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Equities analysts forecast that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of CECO Environmental stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.90% of the stock is owned by company insiders.

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.