Richard F. Wallman Buys 1,000 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

CECO Environmental Stock Performance

CECO stock opened at $24.88 on Friday. The stock has a market capitalization of $870.28 million, a PE ratio of 75.40, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. The stock’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $28.22. CECO Environmental Corp. has a 12-month low of $18.50 and a 12-month high of $35.16. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $156.09 million. During the same period last year, the firm posted $0.28 earnings per share. CECO Environmental’s revenue was up 3.2% compared to the same quarter last year. As a group, research analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of CECO Environmental

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC lifted its holdings in shares of CECO Environmental by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock worth $453,000 after acquiring an additional 885 shares during the last quarter. Van ECK Associates Corp lifted its stake in CECO Environmental by 466.4% in the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of CECO Environmental by 17.6% during the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock valued at $627,000 after buying an additional 3,330 shares during the period. Quest Partners LLC bought a new position in shares of CECO Environmental during the third quarter valued at approximately $69,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the period. 68.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Northland Securities boosted their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CECO Environmental presently has an average 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.