King Luther Capital Management Corp raised its stake in CECO Environmental Corp. (NASDAQ:CECO – Free Report) by 8.9% during the first quarter, HoldingsChannel.com reports. The fund owned 1,126,104 shares of the company’s stock after purchasing an additional 92,315 shares during the quarter. King Luther Capital Management Corp’s holdings in CECO Environmental were worth $25,675,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of CECO Environmental by 118.8% in the 4th quarter. Bank of America Corp DE now owns 100,484 shares of the company’s stock worth $3,038,000 after buying an additional 54,551 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of CECO Environmental by 3.8% in the 1st quarter. Rhumbline Advisers now owns 42,146 shares of the company’s stock worth $961,000 after buying an additional 1,532 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of CECO Environmental by 52.2% in the 4th quarter. Deutsche Bank AG now owns 25,994 shares of the company’s stock worth $786,000 after buying an additional 8,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CECO Environmental by 18.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company’s stock worth $2,664,000 after buying an additional 13,930 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of CECO Environmental by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 91,350 shares of the company’s stock worth $2,083,000 after buying an additional 1,687 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Jason Dezwirek sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.54, for a total value of $1,306,200.00. Following the completion of the sale, the director owned 200,000 shares of the company’s stock, valued at approximately $8,708,000. This represents a 13.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Claudio A. Mannarino sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the completion of the sale, the director directly owned 77,589 shares of the company’s stock, valued at $3,220,719.39. The trade was a 20.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,000 shares of company stock valued at $5,128,900. 16.90% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Analysis on CECO Environmental
CECO Environmental Price Performance
CECO Environmental stock opened at $43.93 on Monday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 2.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.13. CECO Environmental Corp. has a 1 year low of $17.57 and a 1 year high of $46.06. The firm has a 50-day moving average of $32.32 and a two-hundred day moving average of $27.06.
CECO Environmental (NASDAQ:CECO – Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $185.39 million during the quarter, compared to analysts’ expectations of $178.66 million. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. On average, research analysts forecast 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.
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