CECO Environmental Corp. (NASDAQ:CECO) Position Trimmed by Foundry Partners LLC

Foundry Partners LLC decreased its position in CECO Environmental Corp. (NASDAQ:CECO) by 22.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,040 shares of the company’s stock after selling 25,940 shares during the quarter. Foundry Partners LLC owned about 0.26% of CECO Environmental worth $2,567,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC grew its holdings in shares of CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock worth $5,878,000 after purchasing an additional 562 shares during the last quarter. First Horizon Advisors Inc. raised its position in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after buying an additional 591 shares during the last quarter. CWM LLC grew 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 purchasing an additional 708 shares in the last quarter. Private Advisor Group LLC grew its stake in CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after purchasing an additional 885 shares in the last quarter. Finally, Kessler Investment Group LLC boosted its stake in shares of CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock worth $207,000 after acquiring an additional 1,560 shares during the period. Institutional investors own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

CECO has been the topic of a number of research reports. Northland Securities boosted 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 reaffirmed a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Craig Hallum raised their price target on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Roth Mkm increased their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC lowered their price target on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $30.20 on Friday. The firm’s 50 day simple moving average is $26.85 and its 200-day simple moving average is $26.75. CECO Environmental Corp. has a 12 month low of $18.50 and a 12 month high of $31.55. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 91.52, a PEG ratio of 2.52 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 released its 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 net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was down 9.3% compared to the same quarter last year. Analysts expect that CECO Environmental Corp. will post 0.79 EPS for the current year.

Insider Activity

In related news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the transaction, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. This trade represents a 19.23 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through 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.