CECO Environmental Corp. (NASDAQ:CECO) Holdings Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its holdings in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 20.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,010,550 shares of the company's stock after selling 252,808 shares during the period. King Luther Capital Management Corp owned about 2.89% of CECO Environmental worth $28,498,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners acquired a new position in CECO Environmental in the first quarter worth about $516,000. Vanguard Group Inc. increased its holdings in shares of CECO Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company's stock valued at $35,138,000 after acquiring an additional 24,812 shares during the last quarter. Sei Investments Co. increased its holdings in shares of CECO Environmental by 35.2% in the 1st quarter. Sei Investments Co. now owns 70,129 shares of the company's stock valued at $1,614,000 after acquiring an additional 18,272 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of CECO Environmental during the 2nd quarter valued at approximately $15,495,000. Finally, Assenagon Asset Management S.A. lifted its stake in CECO Environmental by 51.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,585 shares of the company's stock worth $2,931,000 after purchasing an additional 34,412 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company's stock.

CECO Environmental Stock Performance

Shares of CECO traded up $1.16 during trading hours on Friday, reaching $31.36. 310,969 shares of the company's stock traded hands, compared to its average volume of 272,769. CECO Environmental Corp. has a twelve month low of $18.50 and a twelve month high of $31.55. The business's fifty day simple moving average is $26.85 and its two-hundred day simple moving average is $26.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 91.52, a P/E/G ratio of 2.52 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The company had revenue of $135.50 million for 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%. CECO Environmental's revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. Analysts predict that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CECO shares. HC Wainwright reissued a "buy" rating and set a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Roth Mkm raised their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Northland Securities upped their target price on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Needham & Company LLC cut their price target on CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Finally, Craig Hallum upped their price objective on CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental presently has an average rating of "Buy" and an average target price of $34.40.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of CECO Environmental stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the purchase, the director now owns 62,000 shares of the company's stock, valued at $1,783,740. This represents a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 16.90% of the company's stock.

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.