Centiva Capital LP Invests $287,000 in CECO Environmental Corp. (NASDAQ:CECO)

Centiva Capital LP bought a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,194 shares of the company’s stock, valued at approximately $287,000.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. increased its stake in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares during the period. CWM LLC grew its holdings in shares of CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after purchasing an additional 708 shares during the last quarter. Quest Partners LLC purchased a new position in CECO Environmental during the 3rd quarter worth approximately $69,000. Eastern Bank purchased a new stake in CECO Environmental in the third quarter valued at approximately $113,000. Finally, SG Americas Securities LLC acquired a new stake in shares of CECO Environmental in the second quarter valued at approximately $201,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Trading Up 2.7 %

NASDAQ:CECO opened at $33.66 on Wednesday. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $34.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a fifty day moving average price of $27.93 and a two-hundred day moving average price of $27.48. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 102.00, a PEG ratio of 2.77 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on CECO. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Needham & Company LLC reduced their target price 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental has an average rating of “Buy” and an average price target of $34.40.

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.