Cynosure Group LLC Acquires New Shares in CECO Environmental Corp. (NASDAQ:CECO)

Cynosure Group LLC bought a new position in CECO Environmental Corp. (NASDAQ:CECO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,124 shares of the company’s stock, valued at approximately $370,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hood River Capital Management LLC bought a new stake in CECO Environmental in the 2nd quarter worth about $15,495,000. Robeco Schweiz AG boosted its holdings in shares of CECO Environmental by 375.2% during the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after acquiring an additional 446,305 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of CECO Environmental in the second quarter worth approximately $11,857,000. Van ECK Associates Corp raised its holdings in shares of CECO Environmental by 466.4% during the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in CECO Environmental by 651,526.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock valued at $8,460,000 after purchasing an additional 293,187 shares during the period. Institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CECO. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Needham & Company LLC reduced 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 raised their target price on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $34.40.

CECO Environmental Price Performance

Shares of CECO Environmental stock opened at $31.88 on Friday. The stock’s fifty day moving average is $27.17 and its 200 day moving average is $26.99. CECO Environmental Corp. has a one year low of $18.50 and a one year high of $33.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $1.12 billion, a P/E ratio of 96.61, a P/E/G ratio of 2.80 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data 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 company had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. During the same period last year, the business earned $0.22 EPS. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. Sell-side analysts anticipate that CECO Environmental Corp. will post 0.79 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.