CECO Environmental Corp. (NASDAQ:CECO) Stock Holdings Lifted by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 10.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 657,764 shares of the company’s stock after acquiring an additional 64,900 shares during the period. First Eagle Investment Management LLC owned about 1.88% of CECO Environmental worth $18,976,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC lifted its holdings in shares of CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after purchasing an additional 708 shares during the last quarter. Kessler Investment Group LLC boosted its holdings in shares of CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after buying an additional 1,560 shares during the period. Principal Financial Group Inc. increased its position in shares of CECO Environmental by 14.8% in the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock worth $546,000 after acquiring an additional 2,439 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of CECO Environmental by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after acquiring an additional 3,147 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of CECO Environmental during the first quarter valued at approximately $72,000. 68.08% of the stock is owned by institutional investors.

CECO Environmental Price Performance

CECO opened at $27.98 on Thursday. The stock has a fifty day moving average price of $28.11 and a 200 day moving average price of $25.49. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 1 year low of $15.27 and a 1 year high of $31.55. The stock has a market cap of $977.51 million, a price-to-earnings ratio of 79.94, a PEG ratio of 1.89 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The business had revenue of $137.50 million during the quarter, compared to analyst estimates of $143.33 million. During the same period in the previous year, the company earned $0.15 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. Analysts forecast that CECO Environmental Corp. will post 0.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CECO. Needham & Company LLC raised their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. HC Wainwright lifted their price target on CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Roth Mkm increased their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Northland Securities lifted their target price on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Craig Hallum upped their target price on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.80.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.90% 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.