LPL Financial LLC Sells 23,591 Shares of CECO Environmental Corp. (NASDAQ:CECO)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in shares of CECO Environmental during the 4th quarter valued at $218,000. Sei Investments Co. boosted its position in shares of CECO Environmental by 15.9% during the 4th quarter. Sei Investments Co. now owns 110,124 shares of the company's stock worth $3,329,000 after acquiring an additional 15,104 shares in the last quarter. American Century Companies Inc. increased its stake in CECO Environmental by 6.9% in the fourth quarter. American Century Companies Inc. now owns 52,720 shares of the company's stock valued at $1,594,000 after acquiring an additional 3,417 shares during the last quarter. Intech Investment Management LLC bought a new stake in CECO Environmental during the fourth quarter worth $371,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of CECO Environmental by 53.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 584,712 shares of the company's stock valued at $17,676,000 after purchasing an additional 204,392 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. HC Wainwright upgraded CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price target on the stock in a report on Wednesday. Needham & Company LLC lifted their target price on shares of CECO Environmental from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Craig Hallum boosted 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $36.00.

CECO Environmental Price Performance

Shares of CECO stock traded up $1.51 on Friday, reaching $25.92. The company's stock had a trading volume of 533,393 shares, compared to its average volume of 288,913. CECO Environmental Corp. has a 12-month low of $17.57 and a 12-month high of $35.16. The stock's 50 day simple moving average is $22.19 and its 200-day simple moving average is $26.42. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $912.82 million, a P/E ratio of 78.55, a PEG ratio of 1.39 and a beta of 1.30.

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

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 on Wednesday, February 26th. The shares were acquired at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the completion of the acquisition, the director now owns 207,117 shares in the company, valued at $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total transaction of $135,264.15. Following the transaction, the insider now owns 84,660 shares of the company's stock, valued at $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. Insiders own 18.40% of the company's stock.

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.