BNP Paribas Financial Markets Reduces Stock Holdings in CECO Environmental Corp. (NASDAQ:CECO)

BNP Paribas Financial Markets decreased its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 73.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,087 shares of the company's stock after selling 42,159 shares during the quarter. BNP Paribas Financial Markets' holdings in CECO Environmental were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of CECO Environmental by 71.6% in 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 last quarter. CWM LLC increased its position in shares of CECO Environmental by 45.3% during the 2nd quarter. CWM LLC now owns 2,270 shares of the company's stock valued at $65,000 after purchasing an additional 708 shares during the last quarter. Quest Partners LLC bought a new stake in CECO Environmental in the third quarter worth about $69,000. Eastern Bank bought a new position in shares of CECO Environmental in the third quarter worth about $113,000. Finally, SG Americas Securities LLC purchased a new stake in shares of CECO Environmental in the 2nd quarter worth $201,000. 68.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 price objective on shares of CECO Environmental in a research report on Wednesday, October 30th. Needham & Company LLC lowered their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $34.40.

CECO Environmental Stock Performance

CECO traded down $0.61 on Friday, reaching $32.11. The company had a trading volume of 197,734 shares, compared to its average volume of 273,271. The stock has a 50-day moving average price of $28.30 and a 200-day moving average price of $27.63. The stock has a market capitalization of $1.12 billion, a PE ratio of 97.30, a P/E/G ratio of 2.92 and a beta of 1.41. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results 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 analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, research analysts forecast that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

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.