King Luther Capital Management Corp Lowers Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

King Luther Capital Management Corp trimmed its position in CECO Environmental Corp. (NASDAQ:CECO) by 20.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,010,550 shares of the company’s stock after selling 252,808 shares during the quarter. King Luther Capital Management Corp’s holdings in CECO Environmental were worth $28,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CECO. First Horizon Advisors Inc. lifted its stake in shares of CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after buying an additional 591 shares in the last quarter. CWM LLC raised its holdings in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after acquiring an additional 708 shares during the period. Quest Partners LLC purchased a new position in shares of CECO Environmental in the third quarter valued at about $69,000. EntryPoint Capital LLC bought a new position in shares of CECO Environmental in the first quarter worth about $72,000. Finally, Eastern Bank purchased a new stake in shares of CECO Environmental during the third quarter worth about $113,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Up 0.8 %

Shares of CECO opened at $30.20 on Friday. 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 52-week low of $18.50 and a 52-week high of $31.55. The company has a market cap of $1.06 billion, a PE ratio of 91.52, a P/E/G ratio of 2.52 and a beta of 1.35. The business has a fifty day moving average of $26.85 and a 200 day moving average of $26.75.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $135.50 million during the quarter, compared to the consensus estimate 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 was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. On average, sell-side analysts expect that CECO Environmental Corp. will post 0.79 EPS for the current year.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at $1,783,740. The trade was a 19.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CECO shares. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Needham & Company LLC decreased their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum boosted their target price on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Roth Mkm raised their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and a consensus price target of $34.40.

CECO Environmental 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.