17,500 Shares in CECO Environmental Corp. (NASDAQ:CECO) Acquired by Clare Market Investments LLC

Clare Market Investments LLC acquired a new position in shares of CECO Environmental Corp. (NASDAQ:CECO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,500 shares of the company’s stock, valued at approximately $529,000. Clare Market Investments LLC owned approximately 0.05% of CECO Environmental at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its position in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after purchasing an additional 591 shares in the last quarter. Rhumbline Advisers increased its position in CECO Environmental by 2.7% in the 4th quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock valued at $1,228,000 after acquiring an additional 1,080 shares during the period. Jones Financial Companies Lllp increased its position in CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after acquiring an additional 1,658 shares during the period. Charles Schwab Investment Management Inc. increased its position in CECO Environmental by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company’s stock valued at $7,179,000 after acquiring an additional 1,967 shares during the period. Finally, Principal Financial Group Inc. increased its position in CECO Environmental by 10.1% in the 4th quarter. Principal Financial Group Inc. now owns 24,493 shares of the company’s stock valued at $740,000 after acquiring an additional 2,247 shares during the period. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Richard F. Wallman bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is owned by insiders.

CECO Environmental Trading Down 4.2 %

NASDAQ:CECO opened at $23.23 on Tuesday. The firm’s fifty day moving average is $27.79 and its 200-day moving average is $28.10. 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 Corp. has a 52 week low of $20.00 and a 52 week high of $35.16. The firm has a market cap of $812.82 million, a P/E ratio of 70.40, a P/E/G ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business 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%. CECO Environmental’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Equities analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

CECO Environmental Company 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.