SageView Advisory Group LLC Raises Position in CECO Environmental Corp. (NASDAQ:CECO)

SageView Advisory Group LLC lifted its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 89.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,840 shares of the company’s stock after buying an additional 13,615 shares during the quarter. SageView Advisory Group LLC’s holdings in CECO Environmental were worth $813,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Essex Investment Management Co. LLC lifted its position 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 in the last quarter. First Horizon Advisors Inc. increased 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 period. CWM LLC lifted its holdings in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares in the last quarter. Private Advisor Group LLC boosted its position in CECO Environmental by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after buying an additional 885 shares during the last quarter. Finally, Kessler Investment Group LLC grew its stake in shares of CECO Environmental by 27.8% during the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after acquiring an additional 1,560 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Down 0.3 %

Shares of CECO Environmental stock opened at $32.70 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $27.57 and a 200 day moving average price of $27.25. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $33.52. The firm has a market cap of $1.14 billion, a P/E ratio of 99.09, a P/E/G ratio of 2.73 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CECO shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday, October 30th. Needham & Company LLC cut their target price 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has an average rating of “Buy” and an average price target of $34.40.

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.