CECO Environmental Corp. (NASDAQ:CECO) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in CECO Environmental Corp. (NASDAQ:CECO) by 28.3% in the 4th quarter, Holdings Channel reports. The fund owned 448,248 shares of the company’s stock after acquiring an additional 98,951 shares during the period. Russell Investments Group Ltd.’s holdings in CECO Environmental were worth $9,090,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CECO. Wellington Management Group LLP increased its position in CECO Environmental by 271.2% during the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock worth $10,047,000 after purchasing an additional 459,646 shares during the period. First Eagle Investment Management LLC purchased a new stake in CECO Environmental during the third quarter worth $7,037,000. Loomis Sayles & Co. L P acquired a new stake in CECO Environmental in the 3rd quarter valued at about $6,891,000. RK Capital Management LLC grew its position in shares of CECO Environmental by 36.6% in the third quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock valued at $14,123,000 after purchasing an additional 237,093 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in CECO Environmental during the third quarter worth $2,907,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

CECO has been the subject of several analyst reports. Roth Mkm boosted their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Needham & Company LLC boosted their price target on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Northland Securities lifted their price objective on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of CECO Environmental in a research note on Wednesday, May 1st. Finally, Craig Hallum upped their price objective on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $27.40.

CECO Environmental Stock Performance

CECO Environmental stock opened at $23.07 on Tuesday. The company has a market cap of $806.07 million, a price-to-earnings ratio of 65.91, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. CECO Environmental Corp. has a 12 month low of $10.68 and a 12 month high of $25.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.19. The stock’s 50-day moving average is $22.77 and its 200-day moving average is $20.52.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The company had revenue of $126.30 million during the quarter, compared to analyst estimates of $135.82 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts anticipate that CECO Environmental Corp. will post 0.94 earnings per share for the current year.

Insider Activity

In related news, Director Richard F. Wallman purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now directly owns 191,853 shares in the company, valued at $4,211,173.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard F. Wallman bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Laurie Siegel purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $19.87 per share, with a total value of $49,675.00. Following the completion of the acquisition, the director now owns 7,906 shares in the company, valued at approximately $157,092.22. The disclosure for this purchase can be found here. Insiders own 16.90% of the company’s stock.

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.