Raymond James Financial Inc. Takes $7.33 Million Position in CECO Environmental Corp. (NASDAQ:CECO)

Raymond James Financial Inc. bought a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 242,614 shares of the company's stock, valued at approximately $7,334,000. Raymond James Financial Inc. owned 0.69% of CECO Environmental at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CECO. First Horizon Advisors Inc. boosted its position in shares of 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 in the last quarter. Quest Partners LLC acquired a new stake in shares of CECO Environmental during the 3rd quarter valued at $69,000. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the 4th quarter worth $74,000. Morse Asset Management Inc acquired a new stake in shares of CECO Environmental during the third quarter worth $76,000. Finally, Jones Financial Companies Lllp boosted its position in shares of CECO Environmental by 127.0% in 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. Institutional investors own 68.08% of the company's stock.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the transaction, the director now owns 207,117 shares of the company's stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.90% of the company's stock.

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Analysts Set New Price Targets

CECO has been the subject of a number of research 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 note on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. Northland Securities lifted their price target on CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Finally, HC Wainwright restated a "neutral" rating on shares of CECO Environmental in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.20.

CECO Environmental Stock Performance

Shares of NASDAQ CECO traded up $0.40 during trading hours on Thursday, hitting $24.56. 284,737 shares of the company's stock were exchanged, compared to its average volume of 277,871. The stock has a market capitalization of $859.35 million, a price-to-earnings ratio of 74.43, a PEG ratio of 1.39 and a beta of 1.43. The company's 50-day moving average price is $25.96 and its 200-day moving average price is $27.78. 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 Corp. has a 1-year low of $20.00 and a 1-year high of $35.16.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced 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. The business had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $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.

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.