Peter K. Johansson Sells 22,500 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the sale, the insider now owns 62,160 shares in the company, valued at $1,417,248. This trade represents a 26.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CECO Environmental Stock Performance

Shares of NASDAQ CECO traded down $1.73 during mid-day trading on Wednesday, reaching $21.36. 358,870 shares of the company were exchanged, compared to its average volume of 283,908. The stock has a market capitalization of $747.39 million, a P/E ratio of 64.73, a P/E/G ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $25.40 and its 200-day simple moving average is $27.69. CECO Environmental Corp. has a twelve month low of $20.00 and a twelve month high of $35.16.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping 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 business had revenue of $158.60 million during the quarter, compared to analysts’ expectations of $156.09 million. During the same period last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors have recently modified their holdings of CECO. Hood River Capital Management LLC increased its position in CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock worth $52,623,000 after acquiring an additional 673,050 shares during the period. Voya Investment Management LLC increased its holdings in shares of CECO Environmental by 6,409.3% during the fourth quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock worth $19,524,000 after purchasing an additional 635,931 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $7,334,000. Capital International Investors boosted its stake in shares of CECO Environmental by 12.1% in the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock valued at $59,593,000 after buying an additional 212,476 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in CECO Environmental during the fourth quarter worth approximately $6,278,000. Institutional investors own 68.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CECO. Northland Securities increased their price objective on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Craig Hallum lifted their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company 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 note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of CECO Environmental in a report 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. Based on data from MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and a consensus 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.