CECO Environmental (NASDAQ:CECO) Trading Down 3.3% After Insider Selling

CECO Environmental Corp. (NASDAQ:CECO) fell 3.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $22.45 and last traded at $22.32. 4,208 shares were traded during mid-day trading, a decline of 99% from the average session volume of 282,268 shares. The stock had previously closed at $23.09.

Specifically, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction on Monday, March 31st. The stock was sold at an average price of $22.80, for a total value of $513,000.00. Following the completion of the transaction, the insider now owns 62,160 shares in the company, valued at approximately $1,417,248. The trade was a 26.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total value of $135,264.15. Following the sale, the insider now owns 84,660 shares in the company, valued at $2,044,539. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several brokerages recently issued reports on CECO. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of CECO Environmental in a research report on Wednesday, February 26th. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum raised their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Northland Securities boosted their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Trading Down 6.3 %

The business’s 50-day simple moving average is $25.02 and its 200-day simple moving average is $27.60. 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 company has a market capitalization of $700.15 million, a price-to-earnings ratio of 60.64, a P/E/G ratio of 1.39 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data 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. The firm had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. On average, research analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in CECO Environmental by 185.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after buying an additional 152,893 shares during the period. FMR LLC raised its position in shares of CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after acquiring an additional 149,777 shares during the period. Centiva Capital LP bought a new position in CECO Environmental during the 3rd quarter worth approximately $287,000. HighTower Advisors LLC grew its holdings in CECO Environmental by 25.4% during the third quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock valued at $501,000 after purchasing an additional 3,581 shares during the period. Finally, Morse Asset Management Inc bought a new stake in CECO Environmental in the third quarter valued at approximately $76,000. 68.08% of the stock is currently owned by institutional investors.

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.