First Horizon Advisors Inc. Increases Stake in CECO Environmental Corp. (NASDAQ:CECO)

First Horizon Advisors Inc. increased its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 71.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,416 shares of the company’s stock after acquiring an additional 591 shares during the quarter. First Horizon Advisors Inc.’s holdings in CECO Environmental were worth $40,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hood River Capital Management LLC bought a new position in shares of CECO Environmental in the 2nd quarter worth $15,495,000. Robeco Schweiz AG raised its holdings in CECO Environmental by 375.2% in the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock worth $16,308,000 after purchasing an additional 446,305 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of CECO Environmental during the second quarter valued at about $11,857,000. Van ECK Associates Corp boosted its holdings in shares of CECO Environmental by 466.4% in the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after buying an additional 312,803 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of CECO Environmental by 651,526.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock worth $8,460,000 after buying an additional 293,187 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CECO shares. Roth Mkm increased their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday, October 30th. Finally, Craig Hallum boosted their price target on CECO Environmental from $28.00 to $34.00 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, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Stock Up 5.2 %

CECO Environmental stock opened at $32.99 on Tuesday. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $33.52. The company has a market cap of $1.15 billion, a PE ratio of 99.97, a PEG ratio of 2.66 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The business’s 50-day simple moving average is $27.01 and its two-hundred day simple moving average is $26.90.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same period last year, the company earned $0.22 earnings per share. The firm’s revenue was down 9.3% on a year-over-year basis. Equities analysts anticipate that CECO Environmental Corp. will post 0.79 EPS for the current year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

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.