Royce & Associates LP Sells 162,200 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Royce & Associates LP trimmed its position in CECO Environmental Corp. (NASDAQ:CECO) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 719,787 shares of the company’s stock after selling 162,200 shares during the quarter. Royce & Associates LP’s holdings in CECO Environmental were worth $20,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC grew its stake in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after buying an additional 708 shares during the last quarter. EntryPoint Capital LLC acquired a new position in CECO Environmental in the 1st quarter valued at about $72,000. Eastern Bank acquired a new position in CECO Environmental in the 3rd quarter valued at about $113,000. SG Americas Securities LLC acquired a new position in CECO Environmental in the 2nd quarter valued at about $201,000. Finally, Kessler Investment Group LLC grew its stake in CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after buying an additional 1,560 shares during the last quarter. 68.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CECO. Roth Mkm upped their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC decreased their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Northland Securities upped their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a research report on Wednesday, October 30th. Finally, Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental has an average rating of “Buy” and a consensus price target of $34.40.

CECO Environmental Stock Performance

NASDAQ CECO opened at $27.20 on Friday. The firm has a market capitalization of $951.46 million, a price-to-earnings ratio of 82.43, a P/E/G ratio of 2.18 and a beta of 1.35. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The firm’s 50 day simple moving average is $26.60 and its 200 day simple moving average is $26.54. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $31.55.

CECO Environmental (NASDAQ:CECO) last issued 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). The company had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. As a group, research analysts expect that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This trade represents a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.90% of the stock is owned by insiders.

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.