OFI Invest Asset Management Invests $522,000 in CECO Environmental Corp. (NASDAQ:CECO)

OFI Invest Asset Management bought a new position in CECO Environmental Corp. (NASDAQ:CECO) in the 4th quarter, HoldingsChannel reports. The fund bought 17,872 shares of the company’s stock, valued at approximately $522,000.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in shares of CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after acquiring an additional 591 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental in the 4th quarter worth approximately $74,000. Quest Partners LLC bought a new stake in shares of CECO Environmental in the 3rd quarter worth approximately $69,000. Morse Asset Management Inc bought a new stake in shares of CECO Environmental in the 3rd quarter worth approximately $76,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after purchasing an additional 1,658 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

Insider Transactions at CECO Environmental

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

CECO Environmental Stock Down 1.1 %

Shares of CECO Environmental stock opened at $24.24 on Monday. The business’s fifty day moving average price is $27.93 and its two-hundred day moving average price is $28.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market capitalization of $848.16 million, a P/E ratio of 73.46, a PEG ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a 1-year low of $20.00 and a 1-year high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

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