Wellington Management Group LLP Decreases Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Wellington Management Group LLP lowered its position in CECO Environmental Corp. (NASDAQ:CECO) by 30.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,467 shares of the company’s stock after selling 156,079 shares during the period. Wellington Management Group LLP owned approximately 1.00% of CECO Environmental worth $9,855,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts have recently commented on CECO shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Needham & Company LLC reduced 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental currently has a consensus rating of “Buy” and an average price target of $34.40.

CECO Environmental Trading Down 1.9 %

Shares of CECO Environmental stock opened at $32.11 on Monday. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. The business’s fifty day moving average is $28.30 and its two-hundred day moving average is $27.64. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.12 billion, a PE ratio of 97.30, a P/E/G ratio of 2.92 and a beta of 1.41.

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

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.