CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 18.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 719,787 shares of the company's stock after selling 162,200 shares during the period. Royce & Associates LP owned about 2.06% of CECO Environmental worth $20,298,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CECO. CWM LLC increased its position 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 last quarter. EntryPoint Capital LLC purchased a new position in CECO Environmental in the first quarter valued at $72,000. Eastern Bank acquired a new stake in CECO Environmental in the third quarter valued at $113,000. SG Americas Securities LLC purchased a new stake in CECO Environmental during the 2nd quarter worth about $201,000. Finally, Kessler Investment Group LLC increased its holdings in shares of CECO Environmental by 27.8% in the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company's stock valued at $207,000 after acquiring an additional 1,560 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company's stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CECO shares. Northland Securities upped their price target 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 reduced their price target on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Roth Mkm upped their price objective 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. HC Wainwright reissued a "buy" rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Finally, Craig Hallum raised their price target 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 analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental currently has an average rating of "Buy" and a consensus target price of $34.40.

CECO Environmental Stock Performance

Shares of NASDAQ:CECO traded up $1.10 on Friday, reaching $27.20. The company's stock had a trading volume of 476,477 shares, compared to its average volume of 268,672. 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 Corp. has a 52-week low of $18.50 and a 52-week high of $31.55. The stock's 50-day moving average is $26.60 and its two-hundred day moving average is $26.54. The stock has a market capitalization of $951.43 million, a P/E ratio of 82.42, a PEG ratio of 2.18 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced 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 net margin of 2.16% and a return on equity of 11.12%. The company had revenue of $135.50 million during the quarter, compared to analysts' expectations of $155.94 million. During the same quarter last year, the business posted $0.22 earnings per share. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CECO Environmental Corp. will post 0.79 EPS for the current 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.