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

Weil Company Inc. trimmed its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 28.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,736 shares of the company’s stock after selling 6,670 shares during the quarter. Weil Company Inc.’s holdings in CECO Environmental were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in CECO Environmental by 651,526.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock worth $8,460,000 after buying an additional 293,187 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of CECO Environmental in the fourth quarter worth about $4,153,000. Great Lakes Advisors LLC acquired a new stake in shares of CECO Environmental during the fourth quarter worth about $2,720,000. Robeco Schweiz AG acquired a new stake in shares of CECO Environmental during the first quarter worth about $2,738,000. Finally, First Eagle Investment Management LLC lifted its holdings in shares of CECO Environmental by 22.7% during the 1st quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock valued at $13,648,000 after purchasing an additional 109,500 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Stock Down 2.1 %

CECO Environmental stock opened at $24.78 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 1-year low of $13.29 and a 1-year high of $31.55. The company has a fifty day simple moving average of $28.25 and a 200 day simple moving average of $25.15. The company has a market cap of $865.71 million, a P/E ratio of 70.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. Research analysts anticipate that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was bought 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 in the company, valued at approximately $1,783,740. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.90% of the company’s stock.

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.