13,050 Shares in CECO Environmental Corp. $CECO Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CECO Environmental Corp. (NASDAQ:CECO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,050 shares of the company’s stock, valued at approximately $1,184,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in CECO Environmental in the third quarter worth $25,000. Morton Brown Family Wealth LLC bought a new stake in shares of CECO Environmental in the first quarter valued at $29,000. Allworth Financial LP purchased a new position in shares of CECO Environmental during the 2nd quarter valued at $29,000. Advisory Services Network LLC purchased a new position in shares of CECO Environmental during the 3rd quarter valued at $31,000. Finally, GAMMA Investing LLC lifted its position in shares of CECO Environmental by 71.6% during the 2nd quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after buying an additional 154 shares during the last quarter. 68.08% of the stock is owned by institutional investors.

CECO Environmental Price Performance

CECO Environmental stock opened at $78.34 on Friday. The firm has a market capitalization of $4.59 billion, a P/E ratio of -113.54 and a beta of 1.51. CECO Environmental Corp. has a one year low of $42.82 and a one year high of $101.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18. The business has a fifty day moving average price of $74.95 and a 200-day moving average price of $73.90.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The firm’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. As a group, equities research analysts forecast that CECO Environmental Corp. will post 2.43 EPS for the current year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, CFO Peter Johansson sold 30,000 shares of CECO Environmental stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the completion of the transaction, the chief financial officer owned 40,746 shares of the company’s stock, valued at $3,931,581.54. The trade was a 42.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jason Dezwirek sold 34,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total value of $3,284,740.00. Following the sale, the director owned 166,000 shares in the company, valued at approximately $16,037,260. This represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Northland Securities set a $125.00 price objective on CECO Environmental in a report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a report on Thursday, July 9th. They set an “overweight” rating and a $130.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $110.00 target price on shares of CECO Environmental in a research report on Tuesday, August 11th. TD Cowen started coverage on shares of CECO Environmental in a research note on Wednesday, August 5th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Weiss Ratings raised shares of CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CECO Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $104.88.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is an environmental technology company that provides engineered solutions for industrial air quality, water and wastewater treatment, and related process applications. Its systems are designed to help industrial customers control emissions, improve operational efficiency, and meet environmental and regulatory requirements.

The company offers products and services including industrial dust and particulate collectors, filtration systems, scrubbers, fans, dampers, valves, thermal and catalytic oxidizers, and other air-pollution-control equipment.