Perritt Capital Management Inc Has $453,000 Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Perritt Capital Management Inc reduced its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 25.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 5,000 shares during the quarter. Perritt Capital Management Inc’s holdings in CECO Environmental were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of CECO Environmental by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 691,705 shares of the company’s stock worth $20,916,000 after buying an additional 2,218 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of CECO Environmental by 15.9% during the 4th quarter. Loomis Sayles & Co. L P now owns 445,352 shares of the company’s stock valued at $13,463,000 after acquiring an additional 61,156 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CECO Environmental by 15.3% in the 4th quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company’s stock valued at $511,000 after purchasing an additional 2,236 shares during the period. Cruiser Capital Advisors LLC boosted its position in shares of CECO Environmental by 9.7% in the 4th quarter. Cruiser Capital Advisors LLC now owns 43,570 shares of the company’s stock worth $1,317,000 after purchasing an additional 3,868 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of CECO Environmental during the fourth quarter worth $5,952,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CECO Environmental

In other CECO Environmental news, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the sale, the insider now directly owns 84,660 shares in the company, valued at approximately $2,044,539. The trade was a 6.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CECO shares. Northland Securities increased their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $33.00 price objective on shares of CECO Environmental in a report on Wednesday, February 26th. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Finally, Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Stock Performance

Shares of CECO opened at $23.09 on Wednesday. The firm has a market cap of $807.92 million, a P/E ratio of 69.97, a PEG ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a twelve month low of $20.00 and a twelve month high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The firm’s 50 day moving average price is $25.40 and its two-hundred day moving average price is $27.69.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $158.60 million during the quarter, compared to analyst estimates of $156.09 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

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.