HighTower Advisors LLC Increases Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

HighTower Advisors LLC grew its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 25.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,669 shares of the company’s stock after buying an additional 3,581 shares during the quarter. HighTower Advisors LLC’s holdings in CECO Environmental were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CECO. Essex Investment Management Co. LLC raised its stake in shares of CECO Environmental by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock worth $5,878,000 after purchasing an additional 562 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after purchasing an additional 591 shares during the period. Private Advisor Group LLC grew its holdings in 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 period. Principal Financial Group Inc. lifted its position in shares of CECO Environmental by 14.8% during the 2nd quarter. Principal Financial Group Inc. now owns 18,916 shares of the company’s stock valued at $546,000 after buying an additional 2,439 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in CECO Environmental in the 3rd quarter valued at about $69,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Stock Down 0.0 %

Shares of NASDAQ:CECO opened at $29.49 on Friday. The firm has a fifty day moving average of $28.53 and a 200 day moving average of $27.76. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $35.16. 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 firm has a market capitalization of $1.03 billion, a PE ratio of 89.37, a price-to-earnings-growth ratio of 2.92 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last issued 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 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 quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. As a group, research analysts anticipate that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on CECO shares. Needham & Company LLC cut their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Finally, Northland Securities boosted their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and an average price target of $35.00.

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.