CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 310,367 shares of the company’s stock after selling 39,100 shares during the quarter. Wellington Management Group LLP’s holdings in CECO Environmental were worth $9,382,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CECO. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter worth approximately $74,000. Morse Asset Management Inc purchased a new stake in CECO Environmental during the third quarter worth approximately $76,000. Jones Financial Companies Lllp increased its position in shares of CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after acquiring an additional 1,658 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of CECO Environmental in the 4th quarter valued at $218,000. Finally, Bard Associates Inc. acquired a new position in shares of CECO Environmental during the 4th quarter valued at $251,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CECO has been the subject of several recent research reports. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities increased their target price on 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 set a $33.00 price target on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Craig Hallum increased their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman acquired 1,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were purchased 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 of the company’s stock, valued at $5,208,992.55. This represents a 0.49 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction that occurred 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 completion of the transaction, the insider now owns 84,660 shares of the company’s stock, valued at approximately $2,044,539. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

CECO Environmental Stock Up 8.0 %

Shares of NASDAQ CECO opened at $20.69 on Thursday. The firm has a market cap of $723.94 million, a price-to-earnings ratio of 62.70, a PEG ratio of 1.39 and a beta of 1.30. CECO Environmental Corp. has a 1 year low of $18.44 and a 1 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’s 50-day simple moving average is $23.95 and its 200-day simple moving average is $27.24.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. During the same period in the prior year, the company posted $0.28 EPS. CECO Environmental’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate 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.