CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC reduced its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 25.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,046 shares of the company's stock after selling 53,380 shares during the quarter. Essex Investment Management Co. LLC owned 0.44% of CECO Environmental worth $4,687,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of CECO Environmental during the 4th quarter valued at about $7,334,000. Peregrine Capital Management LLC acquired a new stake in CECO Environmental in the fourth quarter valued at approximately $6,278,000. Fred Alger Management LLC increased its position in shares of CECO Environmental by 135.9% in the third quarter. Fred Alger Management LLC now owns 312,810 shares of the company's stock valued at $8,821,000 after buying an additional 180,221 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of CECO Environmental by 41.6% during the 4th quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock worth $16,267,000 after buying an additional 158,215 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CECO Environmental by 185.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company's stock valued at $6,641,000 after buying an additional 152,893 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CECO shares. Needham & Company LLC reissued a "buy" rating and issued a $33.00 price target on shares of CECO Environmental in a report on Wednesday, February 26th. HC Wainwright reissued a "neutral" rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum upped their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Northland Securities lifted their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, CECO Environmental has a consensus rating of "Moderate Buy" and an average target price of $36.20.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman purchased 1,000 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the acquisition, the director now directly owns 207,117 shares of the company's stock, valued at approximately $5,208,992.55. This represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company's stock.

CECO Environmental Price Performance

Shares of CECO Environmental stock traded down $0.47 during trading hours on Thursday, reaching $22.88. 194,963 shares of the company's stock were exchanged, compared to its average volume of 278,868. The business has a fifty day moving average of $27.50 and a two-hundred day moving average of $28.02. The company has a market capitalization of $800.57 million, a P/E ratio of 69.34, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. 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 Corp. has a 1 year low of $20.00 and a 1 year high of $35.16.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company had revenue of $158.60 million during the quarter, compared to analysts' expectations of $156.09 million. During the same quarter in the prior year, the company earned $0.28 EPS. CECO Environmental's revenue was up 3.2% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share 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.