State Street Corp Grows Stake in CECO Environmental Corp. (NASDAQ:CECO)

State Street Corp raised its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,315 shares of the company’s stock after purchasing an additional 855 shares during the period. State Street Corp’s holdings in CECO Environmental were worth $18,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in CECO Environmental by 23.5% during the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after buying an additional 149,777 shares during the period. First Eagle Investment Management LLC raised its stake in shares of CECO Environmental by 10.9% in the second quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company’s stock valued at $18,976,000 after acquiring an additional 64,900 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of CECO Environmental by 37.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock worth $16,913,000 after acquiring an additional 159,485 shares during the last quarter. Robeco Schweiz AG boosted its stake in shares of CECO Environmental by 375.2% during the 2nd 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 during the period. Finally, Hood River Capital Management LLC bought a new position in CECO Environmental during the 2nd quarter valued at about $15,495,000. 68.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CECO shares. Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a report on Wednesday, October 30th. Finally, Northland Securities increased their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $35.00.

CECO Environmental Stock Down 2.5 %

Shares of NASDAQ:CECO opened at $28.75 on Tuesday. The business’s 50 day moving average is $28.57 and its 200 day moving average is $27.84. The stock has a market cap of $1.01 billion, a P/E ratio of 87.12, a price-to-earnings-growth ratio of 2.92 and a beta of 1.41. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last posted 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). The firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. Sell-side analysts predict that CECO Environmental Corp. will post 0.79 EPS 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.