HighTower Advisors LLC Sells 9,870 Shares of CECO Environmental Corp. (NASDAQ:CECO)

HighTower Advisors LLC reduced its stake in CECO Environmental Corp. (NASDAQ:CECO) by 55.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,799 shares of the company’s stock after selling 9,870 shares during the quarter. HighTower Advisors LLC’s holdings in CECO Environmental were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the 4th quarter valued at $74,000. Morse Asset Management Inc bought a new stake in CECO Environmental during the third quarter valued at about $76,000. Jones Financial Companies Lllp lifted its position in shares of CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock valued at $90,000 after acquiring an additional 1,658 shares in the last quarter. Bard Associates Inc. bought a new position in shares of CECO Environmental in the fourth quarter worth about $251,000. Finally, Centiva Capital LP purchased a new stake in shares of CECO Environmental during the third quarter worth about $287,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard F. Wallman bought 1,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average cost of $25.15 per share, with a total value of $25,150.00. Following the purchase, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the transaction, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. This trade represents a 26.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.90% of the company’s stock.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $21.35 on Thursday. The company has a market cap of $747.04 million, a PE ratio of 64.70, a P/E/G ratio of 1.39 and a beta of 1.43. 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 has a 50-day simple moving average of $25.23 and a two-hundred day simple moving average of $27.65. CECO Environmental Corp. has a fifty-two week low of $20.00 and a fifty-two week high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 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 $158.60 million for the quarter, compared to analyst estimates of $156.09 million. During the same period in the prior year, the company earned $0.28 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CECO. Northland Securities lifted their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CECO Environmental currently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

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.