LPL Financial LLC Reduces Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

LPL Financial LLC lowered its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 76.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,072 shares of the company's stock after selling 23,591 shares during the period. LPL Financial LLC's holdings in CECO Environmental were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CECO. Raymond James Financial Inc. purchased a new stake in shares of CECO Environmental during the 4th quarter valued at about $7,334,000. Peregrine Capital Management LLC bought a new position in shares of CECO Environmental during the 4th quarter valued at $6,278,000. Thrivent Financial for Lutherans grew its holdings in shares of CECO Environmental by 53.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 584,712 shares of the company's stock worth $17,676,000 after acquiring an additional 204,392 shares during the period. Royce & Associates LP lifted its holdings in CECO Environmental by 27.2% in the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company's stock valued at $27,667,000 after acquiring an additional 195,425 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of CECO Environmental by 41.6% during the 4th quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock valued at $16,267,000 after purchasing an additional 158,215 shares during the period. Institutional investors own 68.08% of the company's stock.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman acquired 1,000 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $24.15, for a total transaction of $135,264.15. Following the completion of the sale, the insider now owns 84,660 shares in the company, valued at approximately $2,044,539. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. 18.40% of the stock is currently owned by insiders.

CECO Environmental Trading Down 0.4 %

CECO Environmental stock traded down $0.10 during trading hours on Monday, hitting $25.82. The company had a trading volume of 27,858 shares, compared to its average volume of 286,865. The firm has a market cap of $909.30 million, a P/E ratio of 78.05, a P/E/G ratio of 1.39 and a beta of 1.30. The company has a 50-day moving average price of $22.19 and a two-hundred day moving average price of $26.42. CECO Environmental Corp. has a 1 year low of $17.57 and a 1 year high of $35.16. 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 (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million during the quarter, compared to analysts' expectations of $151.53 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company's revenue was up 39.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

CECO has been the subject of a number of research reports. HC Wainwright raised shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 target price for the company in a report on Wednesday, April 30th. 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 report on Monday, January 6th. Finally, Needham & Company LLC raised their price objective 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $36.00.

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.