CECO Environmental Corp. (NASDAQ:CECO) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 271.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,146 shares of the company’s stock after purchasing an additional 459,646 shares during the quarter. Wellington Management Group LLP owned approximately 1.81% of CECO Environmental worth $10,047,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CECO. Boothbay Fund Management LLC acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $193,000. Two Sigma Investments LP acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $4,141,000. Two Sigma Advisers LP acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $5,201,000. Cubist Systematic Strategies LLC acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $2,363,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $306,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CECO Environmental news, Director Laurie Siegel bought 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $19.87 per share, with a total value of $49,675.00. Following the purchase, the director now owns 7,906 shares in the company, valued at approximately $157,092.22. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 15.80% of the company’s stock.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $22.73 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.39 and a debt-to-equity ratio of 0.53. The company has a market cap of $792.16 million, a P/E ratio of 61.43, a P/E/G ratio of 1.57 and a beta of 1.23. CECO Environmental Corp. has a fifty-two week low of $10.68 and a fifty-two week high of $24.43. The firm’s 50 day moving average is $20.63 and its two-hundred day moving average is $18.87.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $153.71 million for the quarter, compared to the consensus estimate of $149.10 million. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. During the same quarter last year, the firm posted $0.21 earnings per share. Analysts expect that CECO Environmental Corp. will post 0.96 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Roth Mkm raised their target price on shares of 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 raised their target price on shares of CECO Environmental from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Needham & Company LLC raised their target price on shares of CECO Environmental from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Northland Securities raised their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $26.50.

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.