Janney Montgomery Scott LLC Sells 700 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Janney Montgomery Scott LLC reduced its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,500 shares of the company’s stock after selling 700 shares during the period. Janney Montgomery Scott LLC owned approximately 0.16% of CECO Environmental worth $1,537,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CECO. CWM LLC increased its position in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after acquiring an additional 708 shares during the period. EntryPoint Capital LLC bought a new position in shares of CECO Environmental during the 1st quarter worth about $72,000. Eastern Bank acquired a new position in shares of CECO Environmental during the third quarter valued at about $113,000. SG Americas Securities LLC bought a new stake in shares of CECO Environmental in the second quarter valued at about $201,000. Finally, Kessler Investment Group LLC grew its position in CECO Environmental by 27.8% during the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after buying an additional 1,560 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares in the company, valued at $1,783,740. This represents a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CECO. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Roth Mkm raised their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum upped their price target on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC cut their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $34.40.

CECO Environmental Stock Up 1.4 %

NASDAQ CECO opened at $26.10 on Friday. The stock’s 50 day simple moving average is $26.55 and its 200 day simple moving average is $26.53. CECO Environmental Corp. has a one year low of $18.50 and a one year high of $31.55. The firm has a market cap of $912.98 million, a PE ratio of 79.09, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. 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 (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, sell-side analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

About CECO Environmental

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.