Envestnet Asset Management Inc. Sells 1,026 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Envestnet Asset Management Inc. lowered its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,932 shares of the company’s stock after selling 1,026 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CECO Environmental were worth $361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock worth $49,839,000 after buying an additional 9,023 shares in the last quarter. King Luther Capital Management Corp grew its stake in CECO Environmental by 2.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock worth $31,251,000 after purchasing an additional 23,239 shares in the last quarter. Royce & Associates LP raised its holdings in shares of CECO Environmental by 27.2% in the 4th quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock valued at $27,667,000 after purchasing an additional 195,425 shares in the last quarter. Geode Capital Management LLC boosted its position in CECO Environmental by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 691,705 shares of the company’s stock valued at $20,916,000 after acquiring an additional 2,218 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised 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 worth $17,676,000 after purchasing an additional 204,392 shares in the last quarter. 68.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Craig Hallum boosted their target price on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC upped their price objective on CECO Environmental from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, HC Wainwright raised CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $36.00.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman purchased 1,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the purchase, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the completion of the sale, the insider now directly owns 84,660 shares in the company, valued at $2,044,539. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. 18.40% of the stock is currently owned by corporate insiders.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $25.36 on Tuesday. The stock has a market capitalization of $894.40 million, a price-to-earnings ratio of 76.85, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $35.16. The firm has a 50-day simple moving average of $22.21 and a 200-day simple moving average of $26.40.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million during the quarter, compared to analysts’ expectations of $151.53 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm’s revenue was up 39.9% on a year-over-year basis. On average, equities analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

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.