Geode Capital Management LLC Has $19.45 Million Position in CECO Environmental Corp. (NASDAQ:CECO)

Geode Capital Management LLC boosted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 689,487 shares of the company’s stock after buying an additional 11,857 shares during the period. Geode Capital Management LLC owned approximately 1.97% of CECO Environmental worth $19,448,000 as of its most recent SEC filing.

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

CECO Environmental Stock Performance

NASDAQ CECO opened at $29.47 on Friday. The company’s 50 day simple moving average is $28.82 and its two-hundred day simple moving average is $28.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16. The stock has a market capitalization of $1.03 billion, a PE ratio of 89.31, a P/E/G ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last issued 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 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 last year, the business posted $0.22 EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts predict that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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