Janus Henderson Group PLC Decreases Stake in CECO Environmental Corp. (NASDAQ:CECO)

Janus Henderson Group PLC lessened its stake in CECO Environmental Corp. (NASDAQ:CECO) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 640,946 shares of the company’s stock after selling 8,862 shares during the quarter. Janus Henderson Group PLC owned about 1.83% of CECO Environmental worth $19,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of CECO Environmental in the 4th quarter valued at approximately $7,334,000. Van ECK Associates Corp raised its position in shares of CECO Environmental by 41.6% in the 4th quarter. Van ECK Associates Corp now owns 538,092 shares of the company’s stock valued at $16,267,000 after purchasing an additional 158,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CECO Environmental by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company’s stock valued at $7,179,000 after purchasing an additional 1,967 shares in the last quarter. Sei Investments Co. raised its position in shares of CECO Environmental by 15.9% in the 4th quarter. Sei Investments Co. now owns 110,124 shares of the company’s stock valued at $3,329,000 after purchasing an additional 15,104 shares in the last quarter. Finally, Barclays PLC raised its position in shares of CECO Environmental by 115.0% in the 3rd quarter. Barclays PLC now owns 63,615 shares of the company’s stock valued at $1,795,000 after purchasing an additional 34,027 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Performance

CECO stock opened at $26.28 on Friday. CECO Environmental Corp. has a 12-month low of $17.57 and a 12-month high of $35.16. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $22.42 and its 200 day simple moving average is $26.36. The firm has a market cap of $926.84 million, a P/E ratio of 79.64, a P/E/G ratio of 1.39 and a beta of 1.31.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $176.70 million during the quarter, compared to analysts’ expectations of $151.53 million. The company’s revenue was up 39.9% on a year-over-year basis. As a group, equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. This represents a 0.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter K. Johansson sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the transaction, the insider now directly owns 62,160 shares of the company’s stock, valued at $1,417,248. This represents a 26.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CECO. HC Wainwright raised CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Wednesday, April 30th. Needham & Company LLC upped their target price on CECO Environmental from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental currently has a consensus rating of “Buy” and an average price target of $36.00.

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.