JPMorgan Chase & Co. Cuts Stock Holdings in CECO Environmental Corp. (NASDAQ:CECO)

JPMorgan Chase & Co. decreased its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 70.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,658 shares of the company's stock after selling 34,541 shares during the period. JPMorgan Chase & Co.'s holdings in CECO Environmental were worth $413,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in CECO Environmental by 17.6% during the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company's stock worth $627,000 after purchasing an additional 3,330 shares during the period. Barclays PLC increased its position in shares of CECO Environmental by 115.0% in the third quarter. Barclays PLC now owns 63,615 shares of the company's stock worth $1,795,000 after acquiring an additional 34,027 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company's stock worth $19,448,000 after acquiring an additional 11,857 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its position in shares of CECO Environmental by 153.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 35,500 shares of the company's stock worth $1,001,000 after acquiring an additional 21,517 shares in the last quarter. Finally, SageView Advisory Group LLC increased its position in shares of CECO Environmental by 89.4% in the third quarter. SageView Advisory Group LLC now owns 28,840 shares of the company's stock worth $813,000 after acquiring an additional 13,615 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

CECO Environmental Stock Performance

CECO stock traded down $0.01 on Thursday, reaching $28.93. 186,637 shares of the company were exchanged, compared to its average volume of 347,339. CECO Environmental Corp. has a 12 month low of $18.50 and a 12 month high of $35.16. The stock's fifty day moving average price is $31.07 and its 200 day moving average price is $28.68. The firm has a market capitalization of $1.01 billion, a PE ratio of 87.67, a PEG ratio of 1.70 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. During the same period in the previous year, the company posted $0.22 EPS. The firm's revenue for the quarter was down 9.3% compared to the same quarter last year. On average, research analysts anticipate that CECO Environmental Corp. will post 0.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CECO. HC Wainwright lowered shares of CECO Environmental from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Northland Securities raised their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Needham & Company LLC decreased their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, Craig Hallum raised their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.20.

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.