Peter K. Johansson Sells 22,500 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 22,500 shares of the firm’s 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 completion of the sale, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. This represents a 26.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CECO Environmental Trading Down 6.3 %

Shares of NASDAQ CECO opened at $20.01 on Friday. CECO Environmental Corp. has a 12-month low of $19.67 and a 12-month high of $35.16. The company has a market cap of $700.15 million, a price-to-earnings ratio of 60.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $25.02 and its 200 day simple moving average is $27.60.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CECO shares. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum lifted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Northland Securities upped their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CECO Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CECO Environmental by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,652 shares of the company’s stock valued at $503,000 after purchasing an additional 591 shares in the last quarter. Rhumbline Advisers increased its stake in CECO Environmental by 2.7% in the 4th quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock worth $1,228,000 after purchasing an additional 1,080 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of 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 acquiring an additional 1,658 shares during the period. Price T Rowe Associates Inc. MD raised its stake in CECO Environmental by 18.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,373 shares of the company’s stock valued at $344,000 after purchasing an additional 1,779 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in CECO Environmental during the fourth quarter valued at $56,000. 68.08% of the stock is currently owned by institutional investors.

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.