CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its holdings in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 84.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,878 shares of the company's stock after selling 95,197 shares during the quarter. Calamos Advisors LLC's holdings in CECO Environmental were worth $385,000 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 business. Peregrine Capital Management LLC boosted its holdings in CECO Environmental by 15.8% in the first quarter. Peregrine Capital Management LLC now owns 240,552 shares of the company's stock valued at $5,485,000 after purchasing an additional 32,893 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CECO Environmental by 5.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 442,969 shares of the company's stock valued at $10,100,000 after purchasing an additional 22,981 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $1,003,000. Harbor Capital Advisors Inc. acquired a new stake in shares of CECO Environmental in the first quarter valued at approximately $1,519,000. Finally, Rhumbline Advisers boosted its holdings in shares of CECO Environmental by 3.8% in the first quarter. Rhumbline Advisers now owns 42,146 shares of the company's stock valued at $961,000 after acquiring an additional 1,532 shares during the period. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Performance

Shares of NASDAQ CECO traded up $1.31 during mid-day trading on Wednesday, hitting $30.92. 283,376 shares of the company were exchanged, compared to its average volume of 274,746. The company has a quick ratio of 1.52, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of $27.68 and a 200-day simple moving average of $26.14. 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 $1.09 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued 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. CECO Environmental had a return on equity of 10.10% and a net margin of 7.80%. The firm had revenue of $176.70 million during the quarter, compared to the consensus estimate of $151.53 million. CECO Environmental's quarterly revenue was up 39.9% on a year-over-year basis. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.