Cynosure Group LLC Reduces Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Cynosure Group LLC cut its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,149 shares of the company’s stock after selling 2,975 shares during the period. Cynosure Group LLC’s holdings in CECO Environmental were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CECO. Heck Capital Advisors LLC bought a new position in shares of CECO Environmental in the fourth quarter worth $74,000. Morse Asset Management Inc purchased a new stake in CECO Environmental during the 3rd quarter worth about $76,000. Jones Financial Companies Lllp boosted its stake in CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after purchasing an additional 1,658 shares during the period. KLP Kapitalforvaltning AS purchased a new position in CECO Environmental during the 4th quarter valued at about $218,000. Finally, Bard Associates Inc. bought a new stake in shares of CECO Environmental during the fourth quarter valued at about $251,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Stock Performance

NASDAQ CECO opened at $21.35 on Thursday. The company has a market capitalization of $747.04 million, a P/E ratio of 64.70, a P/E/G ratio of 1.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. CECO Environmental Corp. has a 52-week low of $20.00 and a 52-week high of $35.16. The company has a fifty day moving average of $25.23 and a 200-day moving average of $27.65.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. As a group, equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now owns 207,117 shares of the company’s stock, valued at $5,208,992.55. This represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter K. Johansson sold 22,500 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the completion of the sale, the insider now directly owns 62,160 shares of the company’s stock, valued at approximately $1,417,248. This trade represents a 26.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CECO. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective on shares of CECO Environmental in a research report on Wednesday, February 26th. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. Northland Securities upped their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Craig Hallum lifted their price objective on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Company Profile

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.