CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 25.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,387 shares of the company’s stock after selling 23,146 shares during the period. Navellier & Associates Inc. owned 0.19% of CECO Environmental worth $1,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in CECO Environmental by 71.6% during the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares in the last quarter. Quest Partners LLC acquired a new position in shares of CECO Environmental in the 3rd quarter worth $69,000. Principal Financial Group Inc. grew its holdings in shares of CECO Environmental by 17.6% in the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after acquiring an additional 3,330 shares during the last quarter. Van ECK Associates Corp raised its position in shares of CECO Environmental by 466.4% during the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after purchasing an additional 312,803 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of CECO Environmental by 5.8% during 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 during the last quarter. 68.08% of the stock is owned by institutional investors.

CECO Environmental Trading Up 0.9 %

NASDAQ CECO opened at $29.97 on Thursday. 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 1-year low of $18.50 and a 1-year high of $31.55. The firm’s fifty day simple moving average is $26.80 and its 200-day simple moving average is $26.72. The company has a market capitalization of $1.05 billion, a PE ratio of 90.82, a price-to-earnings-growth ratio of 2.52 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO) last posted 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). The firm had revenue of $135.50 million for 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%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period last year, the business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CECO has been the subject of a number of analyst reports. Needham & Company LLC reduced their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Craig Hallum upped their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Roth Mkm increased their target price on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Northland Securities lifted 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental has an average rating of “Buy” and an average target price of $34.40.

Insiders Place Their Bets

In related news, Director Richard F. Wallman bought 10,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was purchased at an average price 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 19.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.