OFI Invest Asset Management Buys New Position in CECO Environmental Corp. (NASDAQ:CECO)

OFI Invest Asset Management purchased a new stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 17,872 shares of the company's stock, valued at approximately $522,000. OFI Invest Asset Management owned about 0.05% of CECO Environmental at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CECO. First Horizon Advisors Inc. boosted its position in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock valued at $40,000 after purchasing an additional 591 shares during the period. Rhumbline Advisers boosted its position in CECO Environmental by 2.7% during the 4th quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock valued at $1,228,000 after purchasing an additional 1,080 shares during the period. Jones Financial Companies Lllp boosted its position in CECO Environmental by 127.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after purchasing an additional 1,658 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CECO Environmental by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company's stock valued at $7,179,000 after purchasing an additional 1,967 shares during the period. Finally, Principal Financial Group Inc. boosted its position in CECO Environmental by 10.1% during the 4th quarter. Principal Financial Group Inc. now owns 24,493 shares of the company's stock valued at $740,000 after purchasing an additional 2,247 shares during the period. 68.08% of the stock is currently owned by institutional investors.

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CECO Environmental Price Performance

Shares of CECO Environmental stock traded down $0.47 during trading on Thursday, hitting $22.88. The stock had a trading volume of 194,963 shares, compared to its average volume of 278,868. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $800.57 million, a P/E ratio of 69.34, a PEG ratio of 1.39 and a beta of 1.43. The business has a fifty day moving average of $27.50 and a two-hundred day moving average of $28.02. CECO Environmental Corp. has a fifty-two week low of $20.00 and a fifty-two week high of $35.16.

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. The company had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, sell-side analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard F. Wallman bought 1,000 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $25.15 per share, with a total value of $25,150.00. Following the transaction, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. This trade represents a 0.49 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.90% of the company's stock.

Wall Street Analysts Forecast Growth

CECO has been the subject of a number of analyst reports. Needham & Company LLC restated a "buy" rating and set a $33.00 price objective on shares of CECO Environmental in a research report on Wednesday, February 26th. Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. HC Wainwright reiterated a "neutral" rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Northland Securities boosted their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. One 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $36.20.

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.