Insider Selling: CECO Environmental Corp. (NASDAQ:CECO) Insider Sells 5,601 Shares of Stock

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 5,601 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the sale, the insider now directly owns 84,660 shares of the company’s stock, valued at $2,044,539. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CECO Environmental Stock Performance

CECO Environmental stock traded down $0.90 during mid-day trading on Monday, reaching $22.80. 767,735 shares of the stock traded hands, compared to its average volume of 282,960. The stock has a market capitalization of $797.77 million, a PE ratio of 69.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The business’s 50-day moving average is $25.69 and its 200-day moving average is $27.76. CECO Environmental Corp. has a 12-month low of $20.00 and a 12-month high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data 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 company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CECO shares. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities increased their target price 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. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Craig Hallum raised their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One equities research 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 has an average rating of “Moderate Buy” and an average target price of $36.20.

Hedge Funds Weigh In On CECO Environmental

Several large investors have recently added to or reduced their stakes in CECO. Heck Capital Advisors LLC bought a new position in CECO Environmental in the 4th quarter worth approximately $74,000. Mackenzie Financial Corp bought a new position in CECO Environmental during the fourth quarter valued at $56,000. Gordian Capital Singapore Pte Ltd raised its position in CECO Environmental by 86.2% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 66,098 shares of the company’s stock valued at $1,998,000 after purchasing an additional 30,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CECO Environmental by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company’s stock valued at $2,664,000 after buying an additional 13,930 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of CECO Environmental during the 4th quarter worth about $949,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

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.