Essex Investment Management Co. LLC Cuts Position in CECO Environmental Corp. (NASDAQ:CECO)

Essex Investment Management Co. LLC trimmed its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 25.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 155,046 shares of the company’s stock after selling 53,380 shares during the period. Essex Investment Management Co. LLC’s holdings in CECO Environmental were worth $4,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the last quarter. Quest Partners LLC purchased a new position in CECO Environmental during the 3rd quarter worth $69,000. Heck Capital Advisors LLC purchased a new position in CECO Environmental during the 4th quarter worth $74,000. Morse Asset Management Inc purchased a new position in CECO Environmental during the 3rd quarter worth $76,000. Finally, Jones Financial Companies Lllp grew its stake in CECO Environmental by 127.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after buying an additional 1,658 shares during the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Stock Performance

Shares of CECO opened at $24.24 on Friday. The stock has a market cap of $848.16 million, a P/E ratio of 73.46, a P/E/G ratio of 1.39 and a beta of 1.43. The stock has a 50-day moving average of $27.93 and a two-hundred day moving average of $28.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. CECO Environmental Corp. has a one year low of $20.00 and a one year high of $35.16.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $158.60 million during the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the purchase, the director now directly owns 207,117 shares in the company, valued at approximately $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

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

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.