Barclays PLC Cuts Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Barclays PLC cut its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,616 shares of the company's stock after selling 10,999 shares during the period. Barclays PLC owned about 0.15% of CECO Environmental worth $1,590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CECO. Rhumbline Advisers lifted its holdings in shares of CECO Environmental by 2.7% in the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock worth $1,228,000 after acquiring an additional 1,080 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock worth $90,000 after buying an additional 1,658 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CECO Environmental by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company's stock worth $7,179,000 after buying an additional 1,967 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CECO Environmental by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 691,705 shares of the company's stock valued at $20,916,000 after acquiring an additional 2,218 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CECO Environmental by 15.3% during the 4th quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company's stock valued at $511,000 after acquiring an additional 2,236 shares in the last quarter. Institutional investors own 68.08% of the company's stock.

Analyst Upgrades and Downgrades

CECO has been the subject of several research reports. HC Wainwright upgraded CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 target price for the company in a research report on Wednesday, April 30th. Needham & Company LLC upped their price target on shares of CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Craig Hallum lifted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $36.00.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman acquired 1,000 shares of the company's stock in a transaction on 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 approximately $5,208,992.55. This represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter K. Johansson sold 5,601 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $24.15, for a total transaction of $135,264.15. Following the sale, the insider now directly owns 84,660 shares of the company's stock, valued at approximately $2,044,539. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.40% of the company's stock.

CECO Environmental Trading Down 2.2 %

CECO stock traded down $0.56 during midday trading on Monday, hitting $25.36. The stock had a trading volume of 420,654 shares, compared to its average volume of 288,376. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $22.21 and a two-hundred day moving average price of $26.40. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $35.16. The firm has a market cap of $893.10 million, a P/E ratio of 76.85, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $176.70 million for the quarter, compared to analysts' expectations of $151.53 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental's revenue was up 39.9% compared to the same quarter last year. On average, sell-side analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

CECO Environmental 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.