Algert Global LLC Reduces Position in CECO Environmental Corp. (NASDAQ:CECO)

Algert Global LLC reduced its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 61.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 46,320 shares of the company's stock after selling 75,290 shares during the period. Algert Global LLC owned 0.13% of CECO Environmental worth $1,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CECO. First Horizon Advisors Inc. increased its position in shares of CECO Environmental by 71.6% during the third 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. CWM LLC increased its position in shares of CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company's stock worth $65,000 after purchasing an additional 708 shares during the last quarter. Quest Partners LLC bought a new position in shares of CECO Environmental in the third quarter worth approximately $69,000. Eastern Bank bought a new position in shares of CECO Environmental in the third quarter worth approximately $113,000. Finally, SG Americas Securities LLC bought a new position in shares of CECO Environmental in the second quarter worth approximately $201,000. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Trading Up 0.5 %

Shares of CECO Environmental stock traded up $0.17 during midday trading on Friday, reaching $32.05. 194,674 shares of the company's stock traded hands, compared to its average volume of 273,145. The stock has a 50 day moving average of $27.23 and a 200-day moving average of $27.03. 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 company has a market cap of $1.12 billion, a PE ratio of 97.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.35. CECO Environmental Corp. has a 12 month low of $18.50 and a 12 month high of $33.52.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The firm had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. As a group, equities analysts expect that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

Analyst Ratings Changes

CECO has been the topic of several research analyst reports. Needham & Company LLC decreased their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Finally, Northland Securities increased their price objective on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $34.40.

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.