King Luther Capital Management Corp Buys 23,239 Shares of CECO Environmental Corp. (NASDAQ:CECO)

King Luther Capital Management Corp lifted its stake in CECO Environmental Corp. (NASDAQ:CECO) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,033,789 shares of the company’s stock after buying an additional 23,239 shares during the period. King Luther Capital Management Corp’s holdings in CECO Environmental were worth $31,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clare Market Investments LLC bought a new position in CECO Environmental during the 4th quarter valued at about $529,000. OFI Invest Asset Management acquired a new stake in shares of CECO Environmental during the fourth quarter worth approximately $522,000. Amundi raised its stake in shares of CECO Environmental by 5.2% in the fourth quarter. Amundi now owns 184,606 shares of the company’s stock valued at $5,865,000 after acquiring an additional 9,184 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CECO Environmental in the 4th quarter worth approximately $7,334,000. Finally, Bard Associates Inc. bought a new stake in CECO Environmental during the 4th quarter worth approximately $251,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Trading Down 1.2 %

Shares of CECO opened at $22.94 on Wednesday. The stock’s fifty day simple moving average is $27.64 and its 200-day simple moving average is $28.06. The firm has a market capitalization of $802.67 million, a PE ratio of 69.52, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a 12-month low of $20.00 and a 12-month high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 1,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the transaction, the director now owns 207,117 shares of the company’s stock, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 16.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.