Clare Market Investments LLC Buys Shares of 17,500 CECO Environmental Corp. (NASDAQ:CECO)

Clare Market Investments LLC acquired a new position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,500 shares of the company's stock, valued at approximately $529,000. Clare Market Investments LLC owned 0.05% of CECO Environmental as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company's stock valued at $627,000 after acquiring an additional 3,330 shares during the period. Quest Partners LLC bought a new stake in CECO Environmental in the third quarter valued at about $69,000. First Horizon Advisors Inc. increased its stake in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock valued at $40,000 after acquiring an additional 591 shares during the period. Charles Schwab Investment Management Inc. increased 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 acquiring an additional 152,893 shares during the period. Finally, FMR LLC increased its stake in CECO Environmental by 23.5% in the third 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. Institutional investors own 68.08% of the company's stock.

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Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CECO has been the topic of a number of analyst reports. 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. Needham & Company LLC restated a "buy" rating and issued a $33.00 price target on shares of CECO Environmental in a research report on Wednesday, February 26th. HC Wainwright restated a "neutral" rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

CECO Environmental Price Performance

Shares of CECO stock traded up $0.37 during trading hours on Friday, reaching $23.25. 179,811 shares of the company were exchanged, compared to its average volume of 277,680. CECO Environmental Corp. has a fifty-two week low of $20.00 and a fifty-two week high of $35.16. The stock's fifty day moving average is $27.50 and its two-hundred day moving average is $28.02. The company has a market cap of $813.52 million, a price-to-earnings ratio of 70.46, a P/E/G ratio of 1.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $156.09 million. During the same period in the prior year, the business earned $0.28 earnings per share. CECO Environmental's quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

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.