Weil Company Inc. Has $483,000 Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Weil Company Inc. cut its stake in CECO Environmental Corp. (NASDAQ:CECO) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,736 shares of the company’s stock after selling 6,670 shares during the period. Weil Company Inc.’s holdings in CECO Environmental were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in CECO Environmental by 651,526.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock valued at $8,460,000 after acquiring an additional 293,187 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of CECO Environmental during the 4th quarter worth about $4,153,000. Great Lakes Advisors LLC bought a new position in CECO Environmental during the 4th quarter valued at about $2,720,000. Robeco Schweiz AG acquired a new position in CECO Environmental in the first quarter valued at about $2,738,000. Finally, First Eagle Investment Management LLC boosted its position in CECO Environmental by 22.7% in the first quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock valued at $13,648,000 after buying an additional 109,500 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Trading Down 2.1 %

Shares of CECO opened at $24.78 on Friday. The stock’s fifty day simple moving average is $28.25 and its 200-day simple moving average is $25.15. The firm has a market capitalization of $865.71 million, a PE ratio of 70.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. CECO Environmental Corp. has a 12-month low of $13.29 and a 12-month high of $31.55. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million for the quarter, compared to the consensus estimate of $143.33 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental Corp. will post 0.93 earnings per share for the current year.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction on 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 acquisition, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 16.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Roth Mkm lifted their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC lifted their price objective on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright increased their target price on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Craig Hallum lifted their price target on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Northland Securities increased their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $34.80.

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.