Thrivent Financial for Lutherans Boosts Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Thrivent Financial for Lutherans lifted its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 53.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 584,712 shares of the company's stock after buying an additional 204,392 shares during the period. Thrivent Financial for Lutherans owned approximately 1.67% of CECO Environmental worth $17,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock worth $40,000 after purchasing an additional 591 shares in the last quarter. Quest Partners LLC bought a new stake in shares of CECO Environmental during the 3rd quarter valued at $69,000. Heck Capital Advisors LLC bought a new position in shares of CECO Environmental during the fourth quarter valued at approximately $74,000. Morse Asset Management Inc bought a new position in CECO Environmental during the 3rd quarter valued at approximately $76,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after acquiring an additional 1,658 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Price Performance

CECO traded up $0.04 during trading hours on Wednesday, hitting $24.16. The company's stock had a trading volume of 222,427 shares, compared to its average volume of 278,328. The stock has a market cap of $845.36 million, a price-to-earnings ratio of 73.21, a P/E/G ratio of 1.39 and a beta of 1.43. The business's 50-day moving average price is $26.11 and its 200-day moving average price is $27.80. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 12 month low of $20.00 and a 12 month high of $35.16.

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CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. Sell-side analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CECO has been the subject of several analyst reports. HC Wainwright reissued a "neutral" rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $33.00 price objective on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum raised their target price on CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Northland Securities lifted 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

Insider Activity

In other news, Director Richard F. Wallman purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, with a total value of $25,150.00. Following the purchase, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.90% of the company's stock.

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.