Foundry Partners LLC Grows Position in CECO Environmental Corp. (NASDAQ:CECO)

Foundry Partners LLC raised its position in CECO Environmental Corp. (NASDAQ:CECO) by 66.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,470 shares of the company’s stock after acquiring an additional 60,430 shares during the quarter. Foundry Partners LLC owned approximately 0.43% of CECO Environmental worth $4,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of CECO Environmental during the 4th quarter worth $74,000. Morse Asset Management Inc acquired a new position in shares of CECO Environmental during the 3rd quarter worth about $76,000. Jones Financial Companies Lllp increased 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 valued at $90,000 after acquiring an additional 1,658 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of CECO Environmental during the 4th quarter worth about $218,000. Finally, Bard Associates Inc. purchased a new stake in CECO Environmental during the fourth quarter worth approximately $251,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at CECO Environmental

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

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $19.80 on Friday. CECO Environmental Corp. has a one year low of $18.44 and a one year high of $35.16. The stock has a market capitalization of $692.80 million, a price-to-earnings ratio of 60.00, a PEG ratio of 1.39 and a beta of 1.43. The company has a 50-day simple moving average of $24.83 and a 200-day simple moving average of $27.53. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $158.60 million during 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 was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. On average, analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

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.