First Horizon Advisors Inc. Buys 591 Shares of CECO Environmental Corp. (NASDAQ:CECO)

First Horizon Advisors Inc. raised its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 71.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,416 shares of the company’s stock after purchasing an additional 591 shares during the period. First Horizon Advisors Inc.’s holdings in CECO Environmental were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CECO. Boston Partners bought a new position in CECO Environmental during the first quarter valued at approximately $516,000. Vanguard Group Inc. boosted its position in shares of CECO Environmental by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after acquiring an additional 24,812 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of CECO Environmental in the second quarter valued at $15,495,000. Assenagon Asset Management S.A. increased its position in CECO Environmental by 51.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,585 shares of the company’s stock worth $2,931,000 after purchasing an additional 34,412 shares during the last quarter. Finally, Robeco Schweiz AG raised its stake in CECO Environmental by 375.2% during the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company’s stock valued at $16,308,000 after purchasing an additional 446,305 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CECO shares. Craig Hallum upped their target price 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. Roth Mkm upped their price objective on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Northland Securities increased 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. Finally, 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental has an average rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Trading Up 5.2 %

Shares of NASDAQ CECO opened at $32.99 on Tuesday. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $33.52. 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 company has a market cap of $1.15 billion, a price-to-earnings ratio of 99.97, a PEG ratio of 2.66 and a beta of 1.35. The business’s 50 day moving average price is $27.01 and its 200-day moving average price is $26.90.

CECO Environmental (NASDAQ:CECO) last released its 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 business 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 business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, sell-side analysts expect that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

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.