Capital International Investors Raises Stake in CECO Environmental Corp. (NASDAQ:CECO)

Capital International Investors boosted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,971,334 shares of the company’s stock after buying an additional 212,476 shares during the quarter. Capital International Investors owned 5.64% of CECO Environmental worth $59,593,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in CECO Environmental during the fourth quarter valued at $7,334,000. Peregrine Capital Management LLC purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $6,278,000. Thrivent Financial for Lutherans grew its holdings in CECO Environmental by 53.7% during the fourth 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 during the period. Advantage Alpha Capital Partners LP acquired a new stake in CECO Environmental during the fourth quarter worth about $5,952,000. Finally, Royce & Associates LP raised its position in CECO Environmental by 27.2% during the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock valued at $27,667,000 after acquiring an additional 195,425 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $19.36 on Friday. 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 capitalization of $681.80 million, a PE ratio of 58.67, a P/E/G ratio of 1.39 and a beta of 1.30. CECO Environmental Corp. has a fifty-two week low of $18.44 and a fifty-two week high of $35.16. The company has a fifty day moving average of $22.86 and a two-hundred day moving average of $26.84.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping 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 firm had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, with a total value of $25,150.00. Following the purchase, the director now owns 207,117 shares in the company, valued at $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total transaction of $135,264.15. Following the sale, the insider now directly owns 84,660 shares in the company, valued at approximately $2,044,539. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

CECO has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of CECO Environmental in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Finally, Craig Hallum increased their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.