Barclays PLC Purchases 34,027 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Barclays PLC raised its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 115.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,615 shares of the company’s stock after buying an additional 34,027 shares during the period. Barclays PLC’s holdings in CECO Environmental were worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CECO. First Horizon Advisors Inc. grew its stake in shares of CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after acquiring an additional 591 shares in the last quarter. Quest Partners LLC bought a new stake in shares of CECO Environmental during the 3rd quarter worth $69,000. Morse Asset Management Inc purchased a new stake in shares of CECO Environmental during the 3rd quarter worth approximately $76,000. Eastern Bank bought a new stake in shares of CECO Environmental in the third quarter valued at $113,000. Finally, Arizona State Retirement System bought a new position in CECO Environmental during the second quarter worth about $239,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

CECO Environmental Price Performance

Shares of CECO Environmental stock opened at $29.47 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 89.31, a price-to-earnings-growth ratio of 2.92 and a beta of 1.41. The company has a fifty day moving average of $28.82 and a 200-day moving average of $27.99. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 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 company had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same period last year, the firm earned $0.22 earnings per share. CECO Environmental’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts expect that CECO Environmental Corp. will post 0.79 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Northland Securities lifted their price target on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Finally, Needham & Company LLC dropped their price target 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $35.00.

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.