City Center Advisors LLC Invests $322,000 in CECO Environmental Corp. (NASDAQ:CECO)

City Center Advisors LLC acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,431 shares of the company’s stock, valued at approximately $322,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of CECO Environmental by 247.5% in the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after buying an additional 31,707 shares in the last quarter. Boston Partners purchased a new position in shares of CECO Environmental in the first quarter worth approximately $516,000. Vanguard Group Inc. raised its holdings in shares of CECO Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after acquiring an additional 24,812 shares during the period. Sei Investments Co. lifted its position in shares of CECO Environmental by 35.2% in the 1st quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,614,000 after acquiring an additional 18,272 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new position in CECO Environmental in the 2nd quarter worth approximately $15,495,000. Institutional investors own 68.08% of the company’s stock.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of CECO Environmental stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now owns 62,000 shares in the company, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.90% of the stock is currently owned by corporate insiders.

CECO Environmental Trading Down 1.0 %

Shares of NASDAQ CECO opened at $27.38 on Tuesday. The stock has a market cap of $956.55 million, a price-to-earnings ratio of 78.23, a PEG ratio of 1.99 and a beta of 1.33. The business has a 50 day simple moving average of $27.65 and a 200 day simple moving average of $26.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. CECO Environmental Corp. has a 52 week low of $15.27 and a 52 week high of $31.55.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $143.33 million. During the same quarter in the prior year, the business posted $0.15 EPS. CECO Environmental’s quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts predict that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.