Driehaus Capital Management LLC Acquires 159,485 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Driehaus Capital Management LLC lifted its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 37.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 586,249 shares of the company’s stock after buying an additional 159,485 shares during the quarter. Driehaus Capital Management LLC’s holdings in CECO Environmental were worth $16,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of CECO Environmental by 247.5% during the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after buying an additional 31,707 shares in the last quarter. Boston Partners bought a new position in shares of CECO Environmental during the 1st quarter worth $516,000. Vanguard Group Inc. grew its position in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock worth $35,138,000 after buying an additional 24,812 shares in the last quarter. Sei Investments Co. grew its position in shares of CECO Environmental by 35.2% during the 1st quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,614,000 after buying an additional 18,272 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of CECO Environmental during the 2nd quarter worth $15,495,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Up 1.5 %

CECO Environmental stock opened at $29.01 on Friday. The stock has a market capitalization of $1.01 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.99 and a beta of 1.33. CECO Environmental Corp. has a 12 month low of $15.27 and a 12 month high of $31.55. The business has a 50 day simple moving average of $27.97 and a 200-day simple moving average of $25.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17.

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

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 16.90% of the company’s stock.

Wall Street Analyst Weigh In

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

CECO Environmental 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.