Peter K. Johansson Sells 5,601 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 5,601 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total value of $135,264.15. Following the sale, the insider now owns 84,660 shares in the company, valued at $2,044,539. This represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CECO Environmental Stock Down 7.5 %

Shares of NASDAQ CECO opened at $21.35 on Thursday. The company’s 50 day moving average price is $25.23 and its 200-day moving average price is $27.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. CECO Environmental Corp. has a 52-week low of $20.00 and a 52-week high of $35.16. The company has a market capitalization of $747.04 million, a P/E ratio of 64.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. CECO Environmental’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds have recently added to or reduced their stakes in CECO. Hood River Capital Management LLC grew its position in shares of 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 period. Voya Investment Management LLC increased its stake in CECO Environmental by 6,409.3% in the fourth quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock valued at $19,524,000 after purchasing an additional 635,931 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CECO Environmental during the fourth quarter valued at about $7,334,000. Capital International Investors boosted its position 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 purchasing an additional 212,476 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in shares of CECO Environmental in the 4th quarter valued at about $6,278,000. 68.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CECO has been the topic of several research reports. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities raised their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Craig Hallum increased their price objective on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CECO Environmental currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

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.