Wellington Management Group LLP Sells 156,079 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Wellington Management Group LLP lessened its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 30.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,467 shares of the company's stock after selling 156,079 shares during the quarter. Wellington Management Group LLP owned 1.00% of CECO Environmental worth $9,855,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CECO. FMR LLC lifted its stake in CECO Environmental by 23.5% in the third quarter. FMR LLC now owns 786,308 shares of the company's stock worth $22,174,000 after purchasing an additional 149,777 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of CECO Environmental by 10.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 657,764 shares of the company's stock worth $18,976,000 after acquiring an additional 64,900 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in CECO Environmental by 37.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company's stock valued at $16,913,000 after acquiring an additional 159,485 shares during the period. Robeco Schweiz AG grew its position in CECO Environmental by 375.2% in the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company's stock valued at $16,308,000 after acquiring an additional 446,305 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in CECO Environmental in the second quarter worth $15,495,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Needham & Company LLC cut their price target on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. HC Wainwright restated a "buy" rating and issued a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental presently has an average rating of "Buy" and a consensus target price of $34.40.

CECO Environmental Stock Down 1.0 %

NASDAQ:CECO traded down $0.31 during mid-day trading on Monday, reaching $31.80. The company's stock had a trading volume of 263,735 shares, compared to its average volume of 273,236. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16. The stock has a fifty day moving average of $28.38 and a 200-day moving average of $27.69. The firm has a market capitalization of $1.11 billion, a PE ratio of 96.36, a price-to-earnings-growth ratio of 2.92 and a beta of 1.41.

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 the consensus estimate of $0.19 by ($0.05). The business had revenue of $135.50 million during the quarter, compared to analysts' expectations of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental's revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. Equities research analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

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.