Kessler Investment Group LLC Has $120,000 Position in CECO Environmental Corp. (NASDAQ:CECO)

Kessler Investment Group LLC trimmed its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 40.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,270 shares of the company’s stock after selling 2,896 shares during the quarter. Kessler Investment Group LLC’s holdings in CECO Environmental were worth $120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its position in CECO Environmental by 45.3% during the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after acquiring an additional 708 shares during the last quarter. EntryPoint Capital LLC bought a new stake in CECO Environmental in the first quarter valued at approximately $72,000. SG Americas Securities LLC bought a new stake in CECO Environmental in the second quarter valued at approximately $201,000. Arizona State Retirement System bought a new position in shares of CECO Environmental during the 2nd quarter worth approximately $239,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of CECO Environmental during the 2nd quarter worth approximately $317,000. Institutional investors own 68.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman purchased 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was acquired at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.90% of the company’s stock.

CECO Environmental Price Performance

NASDAQ:CECO traded down $0.36 during mid-day trading on Tuesday, hitting $26.49. 8,856 shares of the stock traded hands, compared to its average volume of 258,170. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 12-month low of $15.27 and a 12-month high of $31.55. The company has a market cap of $925.45 million, a PE ratio of 76.71, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The business’s 50-day moving average price is $27.53 and its 200 day moving average price is $26.37.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business had revenue of $137.50 million during the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts expect that CECO Environmental Corp. will post 0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CECO shares. Needham & Company LLC increased their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Roth Mkm increased their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price target on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Northland Securities increased their price target on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, HC Wainwright lifted their price objective on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $34.80.

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.