Assenagon Asset Management S.A. Has $1.44 Million Stake in CECO Environmental Corp. (NASDAQ:CECO)

Assenagon Asset Management S.A. trimmed its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 49.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,993 shares of the company's stock after selling 50,592 shares during the quarter. Assenagon Asset Management S.A. owned 0.15% of CECO Environmental worth $1,438,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CECO. Essex Investment Management Co. LLC increased its position in shares of CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company's stock worth $5,878,000 after acquiring an additional 562 shares in the last quarter. CWM LLC raised its stake in shares of CECO Environmental by 45.3% in 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 period. Private Advisor Group LLC lifted its holdings in shares of CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company's stock valued at $453,000 after purchasing an additional 885 shares in the last quarter. Kessler Investment Group LLC boosted its position in shares of CECO Environmental by 27.8% during the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company's stock worth $207,000 after buying an additional 1,560 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of CECO Environmental by 14.8% during the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company's stock worth $546,000 after buying an additional 2,439 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman acquired 10,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 62,000 shares of the company's stock, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.90% of the company's stock.

CECO Environmental Stock Performance

Shares of CECO Environmental stock traded down $0.33 during trading on Friday, hitting $23.47. 312,693 shares of the stock were exchanged, compared to its average volume of 263,864. CECO Environmental Corp. has a 1-year low of $15.65 and a 1-year high of $31.55. The stock has a market capitalization of $820.98 million, a price-to-earnings ratio of 71.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a fifty day moving average price of $27.08 and a 200-day moving average price of $26.47. The company has a current ratio of 1.30, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same period last year, the firm earned $0.22 EPS. CECO Environmental's quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities analysts predict that CECO Environmental Corp. will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CECO shares. Needham & Company LLC reduced their price target on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday. Roth Mkm lifted their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Craig Hallum increased their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Northland Securities lifted their target price on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a "buy" rating and set a $35.00 target price on shares of CECO Environmental in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has an average rating of "Buy" and an average target price of $34.40.

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.