Marathon Capital Management Reduces Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Marathon Capital Management lowered its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 2.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 145,775 shares of the company’s stock after selling 3,000 shares during the quarter. CECO Environmental accounts for about 1.1% of Marathon Capital Management’s holdings, making the stock its 24th biggest holding. Marathon Capital Management’s holdings in CECO Environmental were worth $4,206,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CECO. CWM LLC lifted its position in shares of CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after purchasing an additional 708 shares during the period. Kessler Investment Group LLC lifted its position in shares of CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after purchasing an additional 1,560 shares during the period. Principal Financial Group Inc. lifted its position in shares of CECO Environmental by 14.8% in the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock worth $546,000 after purchasing an additional 2,439 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of CECO Environmental by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after purchasing an additional 3,147 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of CECO Environmental in the 1st quarter worth about $72,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Up 0.8 %

NASDAQ:CECO opened at $28.59 on Friday. The firm has a market cap of $998.82 million, a P/E ratio of 81.69, a P/E/G ratio of 1.99 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. CECO Environmental Corp. has a fifty-two week low of $15.27 and a fifty-two week high of $31.55. The firm has a 50-day simple moving average of $27.97 and a two-hundred day simple moving average of $25.78.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The firm had revenue of $137.50 million during the quarter, compared to analyst estimates of $143.33 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts predict that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the completion of the acquisition, the director now owns 62,000 shares in the company, valued at approximately $1,783,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CECO has been the subject of several research analyst reports. Needham & Company LLC raised their target price on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Northland Securities increased their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum increased their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm increased their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright increased their price target on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental presently has an average rating of “Buy” and an average target price of $34.80.

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.