Voya Investment Management LLC Has $19.52 Million Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Voya Investment Management LLC boosted its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 6,409.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 645,853 shares of the company’s stock after buying an additional 635,931 shares during the period. Voya Investment Management LLC’s holdings in CECO Environmental were worth $19,524,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hood River Capital Management LLC raised its holdings in shares of CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock valued at $52,623,000 after acquiring an additional 673,050 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of CECO Environmental in the fourth quarter worth $7,334,000. Capital International Investors grew its holdings in shares of CECO Environmental by 12.1% during the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock valued at $59,593,000 after buying an additional 212,476 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in CECO Environmental during the fourth quarter valued at $6,278,000. Finally, Thrivent Financial for Lutherans lifted its stake in CECO Environmental by 53.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 584,712 shares of the company’s stock worth $17,676,000 after acquiring an additional 204,392 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Price Performance

Shares of CECO opened at $19.93 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $701.87 million, a PE ratio of 60.40, a PEG ratio of 1.39 and a beta of 1.30. The firm’s 50 day moving average price is $22.27 and its 200 day moving average price is $26.55. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $35.16.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CECO shares. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum upped their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CECO Environmental has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman bought 1,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the transaction, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the transaction, the insider now directly owns 62,160 shares in the company, valued at approximately $1,417,248. This represents a 26.58 % decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

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.