King Luther Capital Management Corp bought a new stake in CECO Environmental Corp. (NASDAQ:CECO – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,622,349 shares of the company’s stock, valued at approximately $21,675,000. King Luther Capital Management Corp owned approximately 4.69% of CECO Environmental at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CECO. Dimensional Fund Advisors LP acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at $31,331,000. Royce & Associates LP boosted its stake in CECO Environmental by 177.9% in the second quarter. Royce & Associates LP now owns 819,724 shares of the company’s stock valued at $10,952,000 after buying an additional 524,724 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in CECO Environmental in the second quarter valued at about $8,122,000. Arrowstreet Capital Limited Partnership acquired a new position in CECO Environmental during the first quarter worth about $7,528,000. Finally, Two Sigma Advisers LP bought a new position in shares of CECO Environmental in the first quarter worth about $5,201,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
Insider Buying and Selling
In related news, Director Richard F. Wallman purchased 12,000 shares of CECO Environmental stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $13.76 per share, for a total transaction of $165,120.00. Following the transaction, the director now owns 52,000 shares of the company’s stock, valued at approximately $715,520. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Richard F. Wallman purchased 12,000 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $13.76 per share, for a total transaction of $165,120.00. Following the acquisition, the director now owns 52,000 shares in the company, valued at $715,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard F. Wallman acquired 10,000 shares of CECO Environmental stock in a transaction dated Monday, September 18th. The stock was purchased at an average cost of $15.99 per share, for a total transaction of $159,900.00. Following the completion of the purchase, the director now owns 133,205 shares in the company, valued at approximately $2,129,947.95. The disclosure for this purchase can be found here. 15.80% of the stock is owned by corporate insiders.
CECO Environmental Price Performance
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of CECO Environmental from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Roth Mkm upped their price target on shares of CECO Environmental from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. TheStreet raised CECO Environmental from a “c+” rating to a “b” rating in a report on Wednesday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of CECO Environmental in a report on Wednesday, August 9th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average price target of $19.50.
CECO Environmental Company Profile
CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. The company operates in two segments: Engineered Systems Segment and Industrial Process Solutions Segment. 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 and water and wastewater treatment solutions, as well as consultation services.
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