CECO Environmental Corp. (NASDAQ:CECO) Stake Reduced by Bailard Inc.

Bailard Inc. lowered its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,437 shares of the company’s stock after selling 6,700 shares during the quarter. Bailard Inc. owned 0.22% of CECO Environmental worth $1,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CECO. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CECO Environmental in the 4th quarter worth approximately $159,000. Boston Partners bought a new position in shares of CECO Environmental in the 3rd quarter valued at $201,000. SG Americas Securities LLC acquired a new position in CECO Environmental during the 3rd quarter worth about $204,000. Weil Company Inc. acquired a new stake in CECO Environmental in the third quarter valued at approximately $232,000. Finally, Mesirow Financial Investment Management Inc. boosted its position in CECO Environmental by 20.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 19,714 shares of the company’s stock worth $315,000 after purchasing an additional 3,328 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC raised their price target on CECO Environmental from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Roth Mkm upped their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. HC Wainwright raised their target price on CECO Environmental from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Northland Securities upped their price objective on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $26.50.

CECO Environmental Stock Up 0.5 %

NASDAQ CECO traded up $0.13 during mid-day trading on Friday, hitting $25.39. The company’s stock had a trading volume of 80,072 shares, compared to its average volume of 240,560. The firm has a market capitalization of $885.35 million, a price-to-earnings ratio of 68.27, a PEG ratio of 1.68 and a beta of 1.23. CECO Environmental Corp. has a twelve month low of $10.68 and a twelve month high of $25.65. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53. The company’s 50 day simple moving average is $22.41 and its 200 day simple moving average is $20.11.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $153.71 million during the quarter, compared to the consensus estimate of $149.10 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. During the same period last year, the company earned $0.21 earnings per share. Analysts anticipate that CECO Environmental Corp. will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other CECO Environmental news, Director Laurie Siegel purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $19.87 per share, with a total value of $49,675.00. Following the acquisition, the director now directly owns 7,906 shares of the company’s stock, valued at $157,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.80% of the company’s stock.

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.