Hood River Capital Management LLC Acquires 673,050 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Hood River Capital Management LLC grew its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 63.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,740,740 shares of the company's stock after acquiring an additional 673,050 shares during the quarter. Hood River Capital Management LLC owned about 4.98% of CECO Environmental worth $52,623,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of CECO Environmental by 115.0% during the 3rd quarter. Barclays PLC now owns 63,615 shares of the company's stock valued at $1,795,000 after buying an additional 34,027 shares during the period. Geode Capital Management LLC grew its position in CECO Environmental by 1.7% during the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company's stock valued at $19,448,000 after buying an additional 11,857 shares during the period. Raymond James Financial Inc. purchased a new stake in CECO Environmental during the fourth quarter valued at approximately $7,334,000. Van ECK Associates Corp raised its position in CECO Environmental by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock worth $16,267,000 after acquiring an additional 158,215 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of CECO Environmental by 17.6% during the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company's stock worth $627,000 after acquiring an additional 3,330 shares during the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Stock Performance

NASDAQ CECO opened at $18.77 on Wednesday. The business has a 50-day moving average price of $22.57 and a 200-day moving average price of $26.72. The firm has a market cap of $661.02 million, a price-to-earnings ratio of 56.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. During the same quarter in the previous year, the company posted $0.28 EPS. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Richard F. Wallman acquired 1,000 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now owns 207,117 shares of the company's stock, valued at $5,208,992.55. This represents a 0.49 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Peter K. Johansson sold 22,500 shares of the business's 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 transaction, the insider now directly owns 62,160 shares of the company's stock, valued at $1,417,248. The trade was a 26.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.90% of the stock is owned by insiders.

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.

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