Rhumbline Advisers Buys 1,532 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Rhumbline Advisers boosted its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,146 shares of the company’s stock after purchasing an additional 1,532 shares during the period. Rhumbline Advisers owned about 0.12% of CECO Environmental worth $961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CECO. Hood River Capital Management LLC boosted its position in shares of CECO Environmental by 63.0% during the fourth 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 period. Voya Investment Management LLC lifted its stake in CECO Environmental by 6,409.3% in the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock valued at $19,524,000 after acquiring an additional 635,931 shares in the last quarter. Raymond James Financial Inc. acquired a new position in CECO Environmental during the 4th quarter worth approximately $7,334,000. Capital International Investors grew its stake in shares of 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 acquiring an additional 212,476 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of CECO Environmental by 53.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 584,712 shares of the company’s stock worth $17,676,000 after acquiring an additional 204,392 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Trading Down 1.5%

NASDAQ CECO opened at $29.36 on Friday. CECO Environmental Corp. has a 12 month low of $17.57 and a 12 month high of $35.16. The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average of $25.06 and a 200-day moving average of $26.39. The company has a market cap of $1.04 billion, a PE ratio of 22.76, a PEG ratio of 2.03 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $151.53 million. CECO Environmental had a net margin of 7.80% and a return on equity of 10.10%. CECO Environmental’s revenue for the quarter was up 39.9% compared to the same quarter last year. On average, equities research analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on CECO. Needham & Company LLC boosted their price objective on shares of CECO Environmental from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. HC Wainwright raised shares of CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $36.00.

Insider Transactions at CECO Environmental

In other news, insider Peter K. Johansson sold 22,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly 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 filing with the SEC, which is available at this link. 18.40% of the stock is owned by company insiders.

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.