JPMorgan Chase & Co. Has $413,000 Position in CECO Environmental Corp. (NASDAQ:CECO)

JPMorgan Chase & Co. trimmed its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 70.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,658 shares of the company’s stock after selling 34,541 shares during the period. JPMorgan Chase & Co.’s holdings in CECO Environmental were worth $413,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CECO. First Horizon Advisors Inc. boosted its position in CECO Environmental by 71.6% during the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of CECO Environmental in the 3rd quarter valued at approximately $69,000. Morse Asset Management Inc bought a new position in shares of CECO Environmental in the third quarter valued at $76,000. Eastern Bank acquired a new position in CECO Environmental during the third quarter worth $113,000. Finally, SG Americas Securities LLC raised its position in CECO Environmental by 46.0% during the third quarter. SG Americas Securities LLC now owns 10,175 shares of the company’s stock worth $287,000 after acquiring an additional 3,206 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Craig Hallum boosted their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. HC Wainwright downgraded CECO Environmental from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. 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 research report on Wednesday, October 30th. Finally, Northland Securities boosted their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Trading Up 2.1 %

Shares of CECO stock opened at $28.94 on Thursday. CECO Environmental Corp. has a 12-month low of $18.50 and a 12-month high of $35.16. The company has a market capitalization of $1.01 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. The firm has a 50 day moving average price of $31.07 and a two-hundred day moving average price of $28.68. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results 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). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, analysts predict that CECO Environmental Corp. will post 0.74 earnings per share for the current 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.