Ameriprise Financial Inc. Sells 168,565 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Ameriprise Financial Inc. cut its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 67.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,893 shares of the company's stock after selling 168,565 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.23% of CECO Environmental worth $2,445,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hood River Capital Management LLC raised its position in shares of CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock worth $52,623,000 after acquiring an additional 673,050 shares during the last quarter. Voya Investment Management LLC increased its position in CECO Environmental by 6,409.3% during the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock valued at $19,524,000 after purchasing an additional 635,931 shares during the period. Raymond James Financial Inc. acquired a new stake in CECO Environmental during the 4th quarter valued at approximately $7,334,000. Capital International Investors raised its holdings in CECO Environmental by 12.1% during the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company's stock worth $59,593,000 after purchasing an additional 212,476 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of CECO Environmental in the 4th quarter worth approximately $6,278,000. Institutional investors own 68.08% of the company's stock.

CECO Environmental Stock Down 0.7%

CECO traded down $0.19 during midday trading on Friday, hitting $27.15. The company had a trading volume of 310,750 shares, compared to its average volume of 284,777. The stock's 50 day moving average price is $23.24 and its 200 day moving average price is $26.61. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $35.16. The company has a market capitalization of $957.53 million, a price-to-earnings ratio of 82.28, a PEG ratio of 1.39 and a beta of 1.31. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. The business had revenue of $176.70 million during the quarter, compared to analyst estimates 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, research analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Peter K. Johansson sold 22,500 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $22.80, for a total value of $513,000.00. Following the transaction, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. This trade represents a 26.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CECO shares. HC Wainwright upgraded shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price objective for the company in a research report on Wednesday, April 30th. Needham & Company LLC boosted their price target on CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $36.00.

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.