Principal Financial Group Inc. Purchases 3,330 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Principal Financial Group Inc. boosted its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,246 shares of the company’s stock after purchasing an additional 3,330 shares during the quarter. Principal Financial Group Inc. owned about 0.06% of CECO Environmental worth $627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hood River Capital Management LLC purchased a new stake in shares of CECO Environmental during the second quarter valued at approximately $15,495,000. Charles Schwab Investment Management Inc. lifted its position in CECO Environmental by 185.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after acquiring an additional 152,893 shares in the last quarter. HighTower Advisors LLC boosted its stake in CECO Environmental by 25.4% during the 3rd quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock valued at $501,000 after purchasing an additional 3,581 shares during the last quarter. Barclays PLC increased its holdings in shares of CECO Environmental by 115.0% in the 3rd quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $1,795,000 after purchasing an additional 34,027 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after purchasing an additional 11,857 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Stock Performance

Shares of CECO opened at $31.61 on Monday. CECO Environmental Corp. has a one year low of $18.50 and a one year high of $35.16. The business has a fifty day moving average of $29.24 and a 200 day moving average of $28.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $1.11 billion, a P/E ratio of 95.79, a PEG ratio of 2.92 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results 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 firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CECO shares. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a research report on Wednesday, October 30th. Northland Securities upped their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC reduced their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus 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.