Thrivent Financial for Lutherans Buys 204,392 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Thrivent Financial for Lutherans grew its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 53.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 584,712 shares of the company’s stock after purchasing an additional 204,392 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.67% of CECO Environmental worth $17,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CECO. First Horizon Advisors Inc. boosted its position in CECO Environmental by 71.6% during 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 period. Quest Partners LLC bought a new stake in shares of CECO Environmental in the third quarter worth about $69,000. Heck Capital Advisors LLC purchased a new position in CECO Environmental during the 4th quarter valued at about $74,000. Morse Asset Management Inc bought a new position in CECO Environmental during the 3rd quarter valued at approximately $76,000. Finally, Jones Financial Companies Lllp lifted its holdings in CECO Environmental by 127.0% in 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 period. Institutional investors own 68.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman purchased 1,000 shares of CECO Environmental stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the acquisition, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Craig Hallum raised their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Northland Securities raised their price objective on shares of 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Stock Up 1.7 %

Shares of CECO Environmental stock opened at $24.31 on Friday. CECO Environmental Corp. has a 1 year low of $20.00 and a 1 year high of $35.16. The firm has a market cap of $850.61 million, a price-to-earnings ratio of 73.67, a PEG ratio of 1.39 and a beta of 1.43. The company has a 50-day moving average of $26.36 and a 200 day moving average of $27.79. 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, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 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 $158.60 million during the quarter, compared to analyst estimates of $156.09 million. During the same period last year, the business earned $0.28 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

CECO Environmental Company 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.