CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 69.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,849 shares of the company’s stock after selling 48,524 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in CECO Environmental were worth $660,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P boosted its position in shares of CECO Environmental by 15.9% during the 4th quarter. Loomis Sayles & Co. L P now owns 445,352 shares of the company’s stock worth $13,463,000 after acquiring an additional 61,156 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in CECO Environmental by 15.3% during the fourth quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company’s stock worth $511,000 after purchasing an additional 2,236 shares during the last quarter. Cruiser Capital Advisors LLC boosted its holdings in CECO Environmental by 9.7% in the fourth quarter. Cruiser Capital Advisors LLC now owns 43,570 shares of the company’s stock valued at $1,317,000 after purchasing an additional 3,868 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new position in CECO Environmental in the fourth quarter valued at approximately $5,952,000. Finally, Vanguard Group Inc. raised its holdings in CECO Environmental by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock worth $49,839,000 after purchasing an additional 9,023 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Northland Securities raised their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Craig Hallum boosted their target price on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 price target 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Insider Activity

In other news, Director Richard F. Wallman bought 1,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

CECO Environmental Trading Down 3.5 %

NASDAQ CECO opened at $23.70 on Friday. The firm’s fifty day moving average is $25.69 and its two-hundred day moving average is $27.74. CECO Environmental Corp. has a one year low of $20.00 and a one 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 firm has a market cap of $829.26 million, a PE ratio of 71.82, a P/E/G ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last issued its quarterly 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. The firm had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current 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.