CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,320 shares of the company's stock after selling 30,651 shares during the period. Thrivent Financial for Lutherans owned about 1.09% of CECO Environmental worth $10,725,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

CECO has been the topic of several recent analyst reports. Northland Securities increased 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. Roth Mkm raised their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Craig Hallum increased their price objective on CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. HC Wainwright reiterated a "buy" rating and set a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Finally, Needham & Company LLC decreased their price objective on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $34.40.

Insider Activity

In other news, Director Richard F. Wallman purchased 10,000 shares of the company's stock in a transaction dated Friday, August 30th. The stock was acquired at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares in the company, valued at $1,783,740. This represents a 19.23 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 16.90% of the company's stock.

CECO Environmental Stock Performance

NASDAQ CECO traded up $1.16 on Friday, hitting $31.36. 310,969 shares of the company's stock were exchanged, compared to its average volume of 272,769. The firm has a market cap 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. The firm's 50-day moving average price is $26.85 and its two-hundred day moving average price is $26.75. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $31.55. 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 announced its quarterly earnings data 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 in the prior year, the company earned $0.22 EPS. The company's revenue was down 9.3% on a year-over-year basis. On average, research analysts expect 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.