Eastern Bank Buys Shares of 4,000 CECO Environmental Corp. (NASDAQ:CECO)

Eastern Bank purchased a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,000 shares of the company’s stock, valued at approximately $113,000.

A number of other institutional investors have also modified their holdings of CECO. CWM LLC grew 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. EntryPoint Capital LLC bought a new stake in CECO Environmental in the first quarter valued at $72,000. SG Americas Securities LLC acquired a new position in shares of CECO Environmental during the second quarter valued at $201,000. Kessler Investment Group LLC increased its holdings in shares of CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after acquiring an additional 1,560 shares during the period. Finally, Arizona State Retirement System bought a new stake in CECO Environmental in the 2nd quarter valued at about $239,000. Institutional investors own 68.08% of the company’s stock.

Analyst Ratings Changes

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

CECO Environmental Stock Performance

Shares of CECO opened at $26.48 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The firm’s 50 day moving average is $27.45 and its 200-day moving average is $26.41. CECO Environmental Corp. has a 12-month low of $15.36 and a 12-month high of $31.55. The stock has a market capitalization of $925.11 million, a P/E ratio of 75.66, a P/E/G ratio of 2.01 and a beta of 1.33.

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

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of CECO Environmental stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the purchase, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

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.