Boston Partners lowered its stake in CECO Environmental Corp. (NASDAQ:CECE) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,020 shares of the industrial products company’s stock after selling 3,389 shares during the period. Boston Partners owned 0.64% of CECO Environmental worth $1,586,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in CECO Environmental by 0.3% in the third quarter. State Street Corp now owns 551,835 shares of the industrial products company’s stock valued at $3,855,000 after acquiring an additional 1,919 shares in the last quarter. California Public Employees Retirement System boosted its holdings in CECO Environmental by 4.8% in the third quarter. California Public Employees Retirement System now owns 209,569 shares of the industrial products company’s stock valued at $1,464,000 after acquiring an additional 9,621 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in CECO Environmental in the third quarter valued at $91,000. Janney Montgomery Scott LLC boosted its holdings in CECO Environmental by 5.6% in the third quarter. Janney Montgomery Scott LLC now owns 168,856 shares of the industrial products company’s stock valued at $1,179,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new stake in CECO Environmental in the third quarter valued at $1,534,000. Institutional investors and hedge funds own 71.06% of the company’s stock.
Several analysts recently weighed in on the stock. BidaskClub upgraded shares of CECO Environmental from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Zacks Investment Research upgraded shares of CECO Environmental from a “sell” rating to a “hold” rating in a report on Friday, November 8th. B. Riley set a $10.00 price target on shares of CECO Environmental and gave the company a “buy” rating in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of CECO Environmental in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of CECO Environmental in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. CECO Environmental currently has an average rating of “Buy” and an average target price of $10.00.
CECO Environmental (NASDAQ:CECE) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). CECO Environmental had a net margin of 2.96% and a return on equity of 7.91%. The business had revenue of $85.27 million for the quarter, compared to the consensus estimate of $89.53 million. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.46 earnings per share for the current fiscal year.
About CECO Environmental
CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.
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