Van ECK Associates Corp Boosts Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Van ECK Associates Corp grew its position in CECO Environmental Corp. (NASDAQ:CECO) by 466.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 379,877 shares of the company’s stock after acquiring an additional 312,803 shares during the quarter. Van ECK Associates Corp owned about 1.09% of CECO Environmental worth $10,082,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CECO. CWM LLC grew its position in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after acquiring an additional 708 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of CECO Environmental in the first quarter worth about $72,000. Eastern Bank purchased a new position in CECO Environmental in the 3rd quarter worth about $113,000. SG Americas Securities LLC bought a new stake in CECO Environmental during the 2nd quarter valued at about $201,000. Finally, Kessler Investment Group LLC boosted its position in CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after buying an additional 1,560 shares during the period. Institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CECO. Needham & Company LLC reduced their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. 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 report on Thursday, August 1st. Roth Mkm increased their price target on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a report on Wednesday, October 30th. Finally, Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.40.

CECO Environmental Price Performance

Shares of CECO stock opened at $25.02 on Thursday. The stock’s 50-day moving average is $26.86 and its 200 day moving average is $26.51. CECO Environmental Corp. has a 1-year low of $17.15 and a 1-year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market cap of $875.20 million, a P/E ratio of 68.97, a PEG ratio of 1.91 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The firm had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. Research analysts predict that CECO Environmental Corp. will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

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.