SageView Advisory Group LLC Lowers Position in CECO Environmental Corp. (NASDAQ:CECO)

SageView Advisory Group LLC cut its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 46.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,145 shares of the company’s stock after selling 16,617 shares during the quarter. SageView Advisory Group LLC owned approximately 0.06% of CECO Environmental worth $381,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AJOVista LLC purchased a new stake in shares of CECO Environmental during the fourth quarter valued at about $57,000. Tower Research Capital LLC TRC lifted its position in shares of CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after buying an additional 2,195 shares during the last quarter. Kessler Investment Group LLC purchased a new stake in shares of CECO Environmental during the fourth quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CECO Environmental during the fourth quarter valued at about $159,000. Finally, Guyasuta Investment Advisors Inc. purchased a new stake in shares of CECO Environmental during the fourth quarter valued at about $203,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $24.20 on Thursday. CECO Environmental Corp. has a twelve month low of $11.46 and a twelve month high of $26.80. The company’s 50 day moving average is $24.09 and its 200 day moving average is $21.94. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a market cap of $845.45 million, a PE ratio of 69.14, a price-to-earnings-growth ratio of 1.70 and a beta of 1.35.

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

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now owns 191,853 shares in the company, valued at $4,211,173.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard F. Wallman acquired 4,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were acquired at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the transaction, the director now owns 205,319 shares in the company, valued at approximately $5,030,315.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard F. Wallman acquired 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the transaction, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The disclosure for this purchase can be found here. 16.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

CECO Environmental Company 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.