CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in CECO Environmental Corp. (NASDAQ:CECO) by 69.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,849 shares of the company’s stock after selling 48,524 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.06% of CECO Environmental worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CECO. Raymond James Financial Inc. acquired a new position in CECO Environmental in the 4th quarter valued at about $7,334,000. Peregrine Capital Management LLC purchased a new stake in shares of CECO Environmental during the 4th quarter valued at approximately $6,278,000. Thrivent Financial for Lutherans lifted its holdings in CECO Environmental by 53.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 584,712 shares of the company’s stock valued at $17,676,000 after acquiring an additional 204,392 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new position in CECO Environmental in the fourth quarter worth approximately $5,952,000. Finally, Royce & Associates LP increased its stake in CECO Environmental by 27.2% during the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock worth $27,667,000 after acquiring an additional 195,425 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Stock Down 3.5 %

Shares of CECO opened at $23.70 on Friday. The company’s 50-day simple moving average is $25.69 and its 200-day simple moving average is $27.74. 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 1 year low of $20.00 and a 1 year high of $35.16. The stock has a market capitalization of $829.26 million, a PE ratio of 71.82, a P/E/G ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last released 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. The company 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 firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. Analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman purchased 1,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the acquisition, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CECO. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities lifted 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. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective on shares of CECO Environmental in a report on Wednesday, February 26th. Finally, Craig Hallum lifted their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

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.