Wellington Management Group LLP Sells 47,900 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Wellington Management Group LLP trimmed its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 581,246 shares of the company’s stock after selling 47,900 shares during the quarter. Wellington Management Group LLP owned 1.67% of CECO Environmental worth $11,788,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in CECO Environmental by 89.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after purchasing an additional 2,195 shares in the last quarter. AJOVista LLC acquired a new position in CECO Environmental during the 4th quarter worth approximately $57,000. Weil Company Inc. boosted its position in CECO Environmental by 24.1% during the 4th quarter. Weil Company Inc. now owns 18,030 shares of the company’s stock worth $366,000 after acquiring an additional 3,500 shares during the last quarter. Kessler Investment Group LLC acquired a new position in CECO Environmental during the 4th quarter worth approximately $125,000. Finally, Calamos Advisors LLC boosted its position in CECO Environmental by 3.5% during the 4th quarter. Calamos Advisors LLC now owns 217,741 shares of the company’s stock worth $4,416,000 after acquiring an additional 7,430 shares during the last quarter. 68.08% of the stock is owned by institutional investors.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 5,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CECO Environmental news, Director Richard F. Wallman acquired 5,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Wallman acquired 4,000 shares of CECO Environmental stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The disclosure for this purchase can be found here. 16.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CECO. Roth Mkm upped their price target on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st. Craig Hallum increased their price objective on CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Needham & Company LLC increased their price objective on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Northland Securities increased their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.40.

CECO Environmental Stock Up 1.2 %

Shares of NASDAQ CECO opened at $26.45 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 1.38. CECO Environmental Corp. has a 52 week low of $11.46 and a 52 week high of $26.80. The stock has a market capitalization of $924.16 million, a P/E ratio of 75.57, a PEG ratio of 1.86 and a beta of 1.35. The stock’s fifty day moving average is $24.33 and its 200 day moving average is $22.15.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. CECO Environmental’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. Sell-side analysts forecast that CECO Environmental Corp. will post 0.94 earnings per share for the current fiscal year.

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.