Ritholtz Wealth Management Has $463,000 Position in CECO Environmental Corp. (NASDAQ:CECO)

Ritholtz Wealth Management cut its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,052 shares of the company’s stock after selling 592 shares during the period. Ritholtz Wealth Management’s holdings in CECO Environmental were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CECO. CWM LLC lifted its stake in CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after buying an additional 708 shares during the period. EntryPoint Capital LLC acquired a new position in shares of CECO Environmental during the 1st quarter valued at $72,000. Kessler Investment Group LLC bought a new position in CECO Environmental during the fourth quarter worth $125,000. SG Americas Securities LLC acquired a new stake in CECO Environmental in the second quarter worth $201,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CECO Environmental in the fourth quarter valued at $159,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CECO shares. HC Wainwright increased their price objective on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Roth Mkm upped their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $34.80.

CECO Environmental Trading Down 4.9 %

Shares of CECO Environmental stock opened at $26.19 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $28.37 and a 200 day simple moving average of $25.12. CECO Environmental Corp. has a 12-month low of $13.29 and a 12-month high of $31.55. The company has a market capitalization of $914.97 million, a P/E ratio of 74.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of CECO Environmental stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.