CECO Environmental Corp. (NASDAQ:CECO) Stake Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,033,789 shares of the company’s stock after acquiring an additional 23,239 shares during the period. King Luther Capital Management Corp owned about 2.96% of CECO Environmental worth $31,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CECO. First Horizon Advisors Inc. grew its position in 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 acquiring an additional 591 shares in the last quarter. Rhumbline Advisers increased its position in CECO Environmental by 2.7% during the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock worth $1,228,000 after buying an additional 1,080 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after buying an additional 1,658 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CECO Environmental by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company’s stock worth $7,179,000 after buying an additional 1,967 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of CECO Environmental by 10.1% during the 4th quarter. Principal Financial Group Inc. now owns 24,493 shares of the company’s stock worth $740,000 after acquiring an additional 2,247 shares in the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Northland Securities raised their price objective 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 issued a $33.00 price target on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum upped their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CECO Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman purchased 1,000 shares of the firm’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 approximately $5,208,992.55. This represents 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 1.2 %

Shares of CECO stock opened at $22.94 on Wednesday. The firm has a market capitalization of $802.67 million, a P/E ratio of 69.52, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a 1 year low of $20.00 and a 1 year high of $35.16. The firm’s fifty day simple moving average is $27.64 and its 200 day simple moving average is $28.06. 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 posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) 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 company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

About CECO Environmental

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.