Bard Associates Inc. Makes New Investment in CECO Environmental Corp. (NASDAQ:CECO)

Bard Associates Inc. bought a new position in shares of CECO Environmental Corp. (NASDAQ:CECO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,315 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of CECO Environmental during the 4th quarter valued at $6,278,000. Fred Alger Management LLC lifted its holdings in shares of CECO Environmental by 135.9% during the 3rd quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock valued at $8,821,000 after purchasing an additional 180,221 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CECO Environmental by 185.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after purchasing an additional 152,893 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of CECO Environmental by 23.5% during the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after purchasing an additional 149,777 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

CECO has been the subject of several analyst reports. Craig Hallum increased their price objective on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities raised their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC restated 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, for a total transaction 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 position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.90% of the company’s stock.

CECO Environmental Stock Performance

Shares of CECO stock opened at $24.32 on Tuesday. The firm has a market capitalization of $850.96 million, a price-to-earnings ratio of 73.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. 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 business has a fifty day moving average of $28.33 and a 200 day moving average of $28.21. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16.

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

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.