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 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,615 shares of the company’s stock after buying an additional 34,027 shares during the period. Barclays PLC owned 0.18% of CECO Environmental worth $1,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. raised its stake in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after buying an additional 591 shares during the period. Quest Partners LLC acquired a new stake in CECO Environmental during the 3rd quarter worth approximately $69,000. Morse Asset Management Inc bought a new position in CECO Environmental during the third quarter worth about $76,000. Eastern Bank acquired a new position in CECO Environmental in the 3rd quarter valued at $113,000. Finally, Arizona State Retirement System bought a new stake in shares of CECO Environmental during the 2nd quarter valued at $239,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Trading Down 0.2 %

Shares of CECO stock opened at $29.47 on Friday. The stock has a 50-day moving average of $28.82 and a 200-day moving average of $27.99. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 1-year low of $18.50 and a 1-year high of $35.16. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 89.31, a PEG ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data 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 net margin of 2.16% and a return on equity of 11.12%. 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 prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, equities research analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

CECO has been the topic of a number of recent analyst reports. Northland Securities raised their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Needham & Company LLC dropped their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a report on Wednesday, October 30th. Five equities research 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 price target of $35.00.

CECO Environmental Company 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.