Redwood Investments LLC Has $2.65 Million Stock Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Redwood Investments LLC boosted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 20.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,503 shares of the company’s stock after acquiring an additional 14,742 shares during the quarter. Redwood Investments LLC’s holdings in CECO Environmental were worth $2,645,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CECO. Heck Capital Advisors LLC acquired a new position in CECO Environmental during the fourth quarter valued at approximately $74,000. Jones Financial Companies Lllp grew 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 worth $90,000 after acquiring an additional 1,658 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of CECO Environmental in the fourth quarter worth about $218,000. ProShare Advisors LLC acquired a new position in shares of CECO Environmental during the fourth quarter valued at $249,000. Finally, Bard Associates Inc. bought a new position in CECO Environmental in the fourth quarter valued at approximately $251,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Trading Down 0.3%

Shares of CECO stock opened at $26.25 on Thursday. The firm has a market cap of $925.79 million, a P/E ratio of 79.55, a PEG ratio of 1.39 and a beta of 1.31. The company has a 50 day moving average of $22.36 and a 200-day moving average of $26.36. 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 Corp. has a 12-month low of $17.57 and a 12-month high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $176.70 million for the quarter, compared to analyst estimates of $151.53 million. The business’s revenue for the quarter was up 39.9% compared to the same quarter last year. Sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on CECO shares. HC Wainwright raised CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, April 30th. Needham & Company LLC increased their price objective on CECO Environmental from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $36.00.

Insider Transactions at CECO Environmental

In other news, insider Peter K. Johansson sold 5,601 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the completion of the sale, the insider now directly owns 84,660 shares of the company’s stock, valued at approximately $2,044,539. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard F. Wallman purchased 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 of the company’s stock, valued at $5,208,992.55. This represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.40% of the company’s stock.

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.