Royce & Associates LP Acquires 195,425 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Royce & Associates LP lifted its position in CECO Environmental Corp. (NASDAQ:CECO) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 915,212 shares of the company’s stock after acquiring an additional 195,425 shares during the quarter. Royce & Associates LP owned 2.62% of CECO Environmental worth $27,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in shares of 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 in the last quarter. Rhumbline Advisers raised its holdings in shares of CECO Environmental by 2.7% in the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock valued at $1,228,000 after acquiring an additional 1,080 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after acquiring an additional 1,658 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CECO Environmental by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company’s stock valued at $7,179,000 after acquiring an additional 1,967 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of CECO Environmental by 10.1% in the fourth quarter. Principal Financial Group Inc. now owns 24,493 shares of the company’s stock valued at $740,000 after acquiring an additional 2,247 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Price Performance

Shares of CECO stock opened at $23.25 on Monday. CECO Environmental Corp. has a fifty-two week low of $20.00 and a fifty-two week high of $35.16. The firm has a market capitalization of $813.52 million, a price-to-earnings ratio of 70.46, a PEG ratio of 1.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock’s 50-day simple moving average is $27.17 and its 200-day simple moving average is $27.95.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the transaction, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. This represents a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CECO shares. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities boosted their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Craig Hallum boosted their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.20.

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.