RK Capital Management LLC Decreases Stock Holdings in CECO Environmental Corp. (NASDAQ:CECO)

RK Capital Management LLC lowered its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 790,547 shares of the company’s stock after selling 93,800 shares during the quarter. CECO Environmental makes up approximately 3.4% of RK Capital Management LLC’s holdings, making the stock its 8th biggest holding. RK Capital Management LLC owned about 2.27% of CECO Environmental worth $16,032,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Weil Company Inc. grew its holdings in CECO Environmental by 24.1% during the 4th quarter. Weil Company Inc. now owns 18,030 shares of the company’s stock worth $366,000 after acquiring an additional 3,500 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of CECO Environmental in the 4th quarter valued at about $459,000. Great Lakes Advisors LLC bought a new position in shares of CECO Environmental in the 4th quarter valued at about $2,720,000. Navellier & Associates Inc. boosted its stake in shares of CECO Environmental by 34.6% in the 4th quarter. Navellier & Associates Inc. now owns 114,258 shares of the company’s stock valued at $2,317,000 after purchasing an additional 29,381 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of CECO Environmental by 9.7% in the 4th quarter. First Eagle Investment Management LLC now owns 483,364 shares of the company’s stock valued at $9,803,000 after purchasing an additional 42,731 shares during the last quarter. Institutional investors own 68.08% of the company’s stock.

Insiders Place Their Bets

In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the acquisition, the director now directly owns 7,906 shares of the company’s stock, valued at $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the acquisition, the director now directly owns 7,906 shares of the company’s stock, valued at $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Wallman acquired 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the acquisition, the director now directly owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 11,500 shares of company stock worth $257,425. Company insiders own 16.90% of the company’s stock.

CECO Environmental Stock Down 2.0 %

CECO stock traded down $0.50 during mid-day trading on Monday, hitting $24.53. 139,548 shares of the company were exchanged, compared to its average volume of 260,192. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 1.38. The firm has a market cap of $857.08 million, a P/E ratio of 70.09, a P/E/G ratio of 1.78 and a beta of 1.35. The firm’s 50 day simple moving average is $23.97 and its 200 day simple moving average is $21.61. CECO Environmental Corp. has a 1-year low of $11.46 and a 1-year high of $26.80.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. On average, sell-side analysts predict that CECO Environmental Corp. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CECO shares. Roth Mkm raised their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Needham & Company LLC increased their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Craig Hallum increased their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of CECO Environmental in a research report on Wednesday, May 1st. Finally, Northland Securities increased their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental has an average rating of “Buy” and a consensus target price of $27.40.

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.