Foundry Partners LLC Sells 25,940 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Foundry Partners LLC cut its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 22.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,040 shares of the company's stock after selling 25,940 shares during the period. Foundry Partners LLC owned about 0.26% of CECO Environmental worth $2,567,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CECO. Boston Partners bought a new position in shares of CECO Environmental during the 1st quarter valued at $516,000. Vanguard Group Inc. boosted its position in CECO Environmental by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company's stock valued at $35,138,000 after buying an additional 24,812 shares during the period. Sei Investments Co. grew its stake in shares of CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company's stock valued at $1,614,000 after buying an additional 18,272 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of CECO Environmental in the 2nd quarter valued at about $15,495,000. Finally, Assenagon Asset Management S.A. boosted its holdings in CECO Environmental by 51.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,585 shares of the company's stock valued at $2,931,000 after acquiring an additional 34,412 shares during the period. 68.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard F. Wallman acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now owns 62,000 shares of the company's stock, valued at $1,783,740. This trade represents a 19.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.90% of the company's stock.

Analyst Upgrades and Downgrades

CECO has been the subject of several recent research reports. Craig Hallum boosted their price objective on CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. 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 report on Wednesday, July 31st. HC Wainwright reissued a "buy" rating and issued a $35.00 price target on shares of CECO Environmental in a 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 note 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 note on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $34.40.

CECO Environmental Trading Up 3.8 %

Shares of NASDAQ:CECO traded up $1.16 on Friday, hitting $31.36. The company had a trading volume of 310,869 shares, compared to its average volume of 272,769. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $31.55. 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 firm's 50-day simple moving average is $26.92 and its two-hundred day simple moving average is $26.81. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 95.03, a P/E/G ratio of 2.52 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.14 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 analysts' expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. Equities analysts anticipate that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal 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.