CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its position in CECO Environmental Corp. (NASDAQ:CECO) by 25.8% in the 3rd quarter, Holdings Channel reports. The fund owned 28,256 shares of the company’s stock after selling 9,806 shares during the period. Jane Street Group LLC’s holdings in CECO Environmental were worth $797,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CECO. Essex Investment Management Co. LLC raised its holdings in CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock worth $5,878,000 after purchasing an additional 562 shares in the last quarter. First Horizon Advisors Inc. increased its position in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after purchasing an additional 591 shares during the period. Private Advisor Group LLC raised its stake in shares of CECO Environmental by 5.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock worth $453,000 after buying an additional 885 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CECO Environmental by 14.8% in the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock valued at $546,000 after buying an additional 2,439 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of CECO Environmental in the 3rd quarter valued at approximately $69,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CECO. Needham & Company LLC cut their price objective 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. Northland Securities upped their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental currently has a consensus rating of “Buy” and a consensus target price of $35.00.

CECO Environmental Stock Down 0.9 %

CECO opened at $30.23 on Thursday. 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 company has a market cap of $1.06 billion, a price-to-earnings ratio of 91.61, a PEG ratio of 2.92 and a beta of 1.41. CECO Environmental Corp. has a one year low of $18.50 and a one year high of $35.16. The business’s fifty day moving average is $29.05 and its two-hundred day moving average is $28.16.

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 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 analysts’ expectations of $155.94 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. CECO Environmental’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts anticipate that CECO Environmental Corp. will post 0.79 EPS for the current fiscal 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.