Wells Fargo & Company MN Purchases 3,139 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Wells Fargo & Company MN raised its position in CECO Environmental Corp. (NASDAQ:CECO) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 134,656 shares of the company’s stock after purchasing an additional 3,139 shares during the quarter. Wells Fargo & Company MN’s holdings in CECO Environmental were worth $4,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in CECO Environmental during the 4th quarter valued at approximately $74,000. Morse Asset Management Inc bought a new position in shares of CECO Environmental during the third quarter valued at approximately $76,000. Jones Financial Companies Lllp lifted its stake in CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after acquiring an additional 1,658 shares during the period. KLP Kapitalforvaltning AS bought a new stake in CECO Environmental in the fourth quarter valued at $218,000. Finally, Bard Associates Inc. bought a new position in CECO Environmental in the 4th quarter worth $251,000. 68.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CECO Environmental presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Insider Activity at CECO Environmental

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

CECO Environmental Stock Down 7.2 %

CECO stock opened at $17.97 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $22.71 and a 200 day moving average of $26.78. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $35.16. The firm has a market cap of $632.85 million, a PE ratio of 54.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30.

CECO Environmental (NASDAQ:CECO) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. On average, research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

About CECO Environmental

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.