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

HighTower Advisors LLC lessened its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 55.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,799 shares of the company’s stock after selling 9,870 shares during the period. HighTower Advisors LLC’s holdings in CECO Environmental were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in CECO Environmental by 185.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock worth $6,641,000 after purchasing an additional 152,893 shares in the last quarter. FMR LLC increased its holdings in shares of CECO Environmental by 23.5% during the third quarter. FMR LLC now owns 786,308 shares of the company’s stock worth $22,174,000 after buying an additional 149,777 shares in the last quarter. Centiva Capital LP bought a new position in shares of CECO Environmental in the 3rd quarter valued at $287,000. Morse Asset Management Inc acquired a new stake in shares of CECO Environmental during the 3rd quarter valued at $76,000. Finally, SageView Advisory Group LLC grew its position in CECO Environmental by 89.4% during the 3rd quarter. SageView Advisory Group LLC now owns 28,840 shares of the company’s stock worth $813,000 after acquiring an additional 13,615 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analyst Ratings Changes

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

CECO Environmental Stock Performance

NASDAQ:CECO opened at $21.35 on Thursday. The company has a market capitalization of $747.04 million, a P/E ratio of 64.70, a P/E/G ratio of 1.39 and a beta of 1.43. The business has a fifty day simple moving average of $25.23 and a two-hundred day simple moving average of $27.65. 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 $20.00 and a 1 year high of $35.16.

CECO Environmental (NASDAQ:CECO) last released 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 net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $158.60 million during the quarter, compared to analyst estimates of $156.09 million. During the same period in the previous year, the business earned $0.28 EPS. CECO Environmental’s revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Transactions at CECO Environmental

In other CECO Environmental news, insider Peter K. Johansson sold 5,601 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the sale, the insider now owns 84,660 shares of the company’s stock, valued at $2,044,539. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard F. Wallman acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. This represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.90% of the company’s stock.

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.