Tower Research Capital LLC TRC Sells 8,404 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Tower Research Capital LLC TRC lessened its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 83.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,688 shares of the company’s stock after selling 8,404 shares during the period. Tower Research Capital LLC TRC’s holdings in CECO Environmental were worth $51,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the fourth quarter worth $74,000. Jones Financial Companies Lllp grew its holdings in shares of CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after purchasing an additional 1,658 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of CECO Environmental during the fourth quarter worth $218,000. Bard Associates Inc. bought a new stake in shares of CECO Environmental during the fourth quarter worth $251,000. Finally, Intech Investment Management LLC bought a new stake in shares of CECO Environmental during the fourth quarter worth $371,000. Institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. HC Wainwright upgraded CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, April 30th. Needham & Company LLC upped their price target on CECO Environmental from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $36.00.

CECO Environmental Trading Up 2.6%

NASDAQ:CECO opened at $25.67 on Tuesday. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $35.16. The business’s 50-day moving average price is $22.28 and its two-hundred day moving average price is $26.36. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $905.33 million, a price-to-earnings ratio of 77.79, a PEG ratio of 1.39 and a beta of 1.31.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $176.70 million for the quarter, compared to analyst estimates of $151.53 million. The company’s revenue was up 39.9% compared to the same quarter last year. On average, equities analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other news, insider Peter K. Johansson sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the sale, the insider now owns 62,160 shares of the company’s stock, valued at $1,417,248. This trade represents a 26.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard F. Wallman purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the transaction, the director now owns 207,117 shares of the company’s stock, valued at $5,208,992.55. This trade represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.40% 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.