Formula Growth Ltd. Has $4.23 Million Position in CECO Environmental Corp. (NASDAQ:CECO)

Formula Growth Ltd. lessened its position in CECO Environmental Corp. (NASDAQ:CECO) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 139,958 shares of the company’s stock after selling 1,000 shares during the period. CECO Environmental comprises approximately 1.4% of Formula Growth Ltd.’s holdings, making the stock its 20th biggest holding. Formula Growth Ltd. owned about 0.40% of CECO Environmental worth $4,231,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital International Investors boosted its position in CECO Environmental by 12.1% in the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock valued at $59,593,000 after buying an additional 212,476 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock valued at $49,839,000 after acquiring an additional 9,023 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of CECO Environmental by 2.3% in the 4th quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock worth $31,251,000 after acquiring an additional 23,239 shares in the last quarter. Royce & Associates LP grew its position in CECO Environmental by 27.2% during the 4th quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock worth $27,667,000 after acquiring an additional 195,425 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in CECO Environmental by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 691,705 shares of the company’s stock valued at $20,916,000 after purchasing an additional 2,218 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Trading Down 1.7 %

Shares of CECO opened at $19.36 on Friday. The stock’s fifty day simple moving average is $22.86 and its 200-day simple moving average is $26.85. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $681.80 million, a PE ratio of 58.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30. CECO Environmental Corp. has a 12-month low of $18.44 and a 12-month high of $35.16.

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 analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on CECO. Northland Securities boosted their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum raised 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CECO Environmental has an average rating of “Moderate Buy” and an average price target of $36.20.

Insiders Place Their Bets

In other news, Director Richard F. Wallman purchased 1,000 shares of the business’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 transaction, the director now directly owns 207,117 shares of the company’s stock, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the transaction, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. The trade was a 26.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.90% of the company’s stock.

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.