Calamos Advisors LLC Sells 52,418 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Calamos Advisors LLC decreased its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 36.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,731 shares of the company’s stock after selling 52,418 shares during the quarter. Calamos Advisors LLC owned approximately 0.26% of CECO Environmental worth $2,589,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CECO. Hennessy Advisors Inc. acquired a new position in CECO Environmental during the 4th quarter worth $4,153,000. Great Lakes Advisors LLC acquired a new position in shares of CECO Environmental in the 4th quarter valued at $2,720,000. Robeco Schweiz AG acquired a new position in shares of CECO Environmental in the 1st quarter valued at $2,738,000. First Eagle Investment Management LLC lifted its stake in shares of CECO Environmental by 22.7% in the 1st quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock valued at $13,648,000 after purchasing an additional 109,500 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of CECO Environmental by 28.3% in the 4th quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after purchasing an additional 98,951 shares during the period. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CECO. HC Wainwright increased their price target on CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Northland Securities increased their price target on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum increased their price target on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm upped their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC upped their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.80.

CECO Environmental Trading Up 4.3 %

Shares of CECO traded up $1.17 during trading hours on Friday, reaching $28.65. The stock had a trading volume of 134,004 shares, compared to its average volume of 278,425. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 52 week low of $12.55 and a 52 week high of $31.55. The firm has a 50-day moving average of $27.89 and a 200 day moving average of $24.69. The company has a market cap of $1.00 billion, a P/E ratio of 81.86, a P/E/G ratio of 2.07 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $137.50 million during the quarter, compared to analysts’ expectations of $143.33 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, sell-side analysts expect that CECO Environmental Corp. will post 0.92 earnings per share for the current fiscal 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.