Northern Trust Corp Increases Position in CECO Environmental Corp. (NASDAQ:CECO)

Northern Trust Corp increased its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,310 shares of the company’s stock after buying an additional 2,638 shares during the quarter. Northern Trust Corp owned 0.79% of CECO Environmental worth $8,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CECO. Hood River Capital Management LLC grew its stake in CECO Environmental by 63.0% during the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock worth $52,623,000 after buying an additional 673,050 shares during the last quarter. Voya Investment Management LLC grew its stake in CECO Environmental by 6,409.3% during the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock worth $19,524,000 after buying an additional 635,931 shares during the last quarter. Raymond James Financial Inc. purchased a new position in CECO Environmental during the 4th quarter worth $7,334,000. Capital International Investors grew its stake in CECO Environmental by 12.1% during the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock worth $59,593,000 after buying an additional 212,476 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in CECO Environmental during the 4th quarter worth $6,278,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CECO shares. Needham & Company LLC boosted their target price on CECO Environmental from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. 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 research report on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental has an average rating of “Buy” and a consensus target price of $36.00.

Insider Activity

In related news, insider Peter K. Johansson sold 22,500 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $22.80, for a total value of $513,000.00. Following the completion of the transaction, the insider now owns 62,160 shares of the company’s stock, valued at approximately $1,417,248. This represents a 26.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman purchased 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $25.15 per share, with a total value 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 position. The disclosure for this purchase can be found here. Insiders own 18.40% of the company’s stock.

CECO Environmental Stock Performance

Shares of CECO opened at $26.84 on Monday. The stock has a 50-day moving average of $22.50 and a two-hundred day moving average of $26.42. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $946.59 million, a P/E ratio of 81.34, a P/E/G ratio of 1.39 and a beta of 1.31.

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