CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC reduced its stake in CECO Environmental Corp. (NASDAQ:CECO) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,723 shares of the company’s stock after selling 552 shares during the period. Truvestments Capital LLC’s holdings in CECO Environmental were worth $218,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CECO. Vanguard Group Inc. grew its position 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 worth $35,138,000 after acquiring an additional 24,812 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of CECO Environmental by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 338,640 shares of the company’s stock valued at $7,795,000 after purchasing an additional 14,690 shares during the period. Boston Partners bought a new stake in shares of CECO Environmental during the first quarter valued at approximately $516,000. CWM LLC boosted its position in shares of 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 buying an additional 708 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in CECO Environmental in the 2nd quarter valued at approximately $201,000. 68.08% of the stock is owned by institutional investors.

CECO Environmental Stock Up 5.2 %

Shares of CECO Environmental stock opened at $32.99 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 99.97, a P/E/G ratio of 2.66 and a beta of 1.35. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $33.52. The stock has a 50-day simple moving average of $27.01 and a 200-day simple moving average of $26.90.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 EPS 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 business 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 company earned $0.22 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts expect that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CECO has been the subject of a number of analyst reports. Roth Mkm boosted their price target on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC decreased their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Northland Securities boosted their price target on shares of 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 report on Wednesday, October 30th. Finally, Craig Hallum raised their price objective on shares of CECO Environmental from $28.00 to $34.00 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, Based on data from MarketBeat.com, CECO Environmental has a consensus rating of “Buy” and an average target price of $34.40.

Insider Activity

In other news, Director Richard F. Wallman bought 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 19.23 % 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 insiders.

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.