Ritholtz Wealth Management Reduces Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Ritholtz Wealth Management trimmed its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,122 shares of the company’s stock after selling 930 shares during the quarter. Ritholtz Wealth Management’s holdings in CECO Environmental were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CECO. CWM LLC raised its position in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after purchasing an additional 708 shares during the period. EntryPoint Capital LLC purchased a new stake in CECO Environmental during the 1st quarter valued at $72,000. SG Americas Securities LLC purchased a new stake in CECO Environmental during the 2nd quarter valued at $201,000. Kessler Investment Group LLC lifted its position in CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after buying an additional 1,560 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in CECO Environmental during the second quarter worth $239,000. Institutional investors own 68.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Northland Securities increased their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm increased their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum boosted their target price on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright increased their price target on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC raised their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and a consensus price target of $34.80.

CECO Environmental Price Performance

Shares of CECO stock opened at $26.58 on Thursday. The company has a market capitalization of $928.60 million, a P/E ratio of 75.94, a P/E/G ratio of 2.01 and a beta of 1.33. The company’s 50-day simple moving average is $27.55 and its two-hundred day simple moving average is $26.29. CECO Environmental Corp. has a one year low of $15.27 and a one year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. CECO Environmental’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.93 EPS for the current year.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

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.