King Luther Capital Management Corp Sells 203,000 Shares of CECO Environmental Corp. (NASDAQ:CECO)

King Luther Capital Management Corp decreased its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,419,349 shares of the company’s stock after selling 203,000 shares during the quarter. King Luther Capital Management Corp owned about 4.08% of CECO Environmental worth $28,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AJOVista LLC acquired a new stake in CECO Environmental during the fourth quarter worth about $57,000. Kessler Investment Group LLC purchased a new position in shares of CECO Environmental in the 4th quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CECO Environmental during the 4th quarter valued at about $159,000. Guyasuta Investment Advisors Inc. purchased a new position in CECO Environmental during the 4th quarter valued at about $203,000. Finally, Boston Partners acquired a new stake in shares of CECO Environmental during the 3rd quarter worth about $201,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Stock Down 0.3 %

Shares of CECO traded down $0.08 during trading hours on Wednesday, reaching $25.13. The company’s stock had a trading volume of 199,698 shares, compared to its average volume of 260,399. The firm has a market cap of $878.04 million, a price-to-earnings ratio of 72.46, a P/E/G ratio of 1.74 and a beta of 1.24. CECO Environmental Corp. has a 1-year low of $10.68 and a 1-year high of $25.82. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $23.43 and a two-hundred day moving average of $21.21.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, research analysts predict that CECO Environmental Corp. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CECO. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of CECO Environmental in a research report on Wednesday, May 1st. Roth Mkm upped their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC boosted their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Craig Hallum boosted their price objective on CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Northland Securities boosted their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental presently has an average rating of “Buy” and an average price target of $27.40.

Insider Activity

In other news, Director Laurie Siegel purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $19.87 per share, with a total value of $49,675.00. Following the purchase, the director now owns 7,906 shares in the company, valued at approximately $157,092.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard F. Wallman acquired 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now owns 191,853 shares in the company, valued at $4,211,173.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $19.87 per share, with a total value of $49,675.00. Following the completion of the acquisition, the director now owns 7,906 shares of the company’s stock, valued at approximately $157,092.22. The disclosure for this purchase can be found here. Insiders have acquired 11,500 shares of company stock worth $257,425 in the last 90 days. Company insiders own 16.90% of the company’s stock.

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.