BNP Paribas Financial Markets Sells 10,884 Shares of CECO Environmental Corp. (NASDAQ:CECO)

BNP Paribas Financial Markets cut its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 72.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,203 shares of the company's stock after selling 10,884 shares during the period. BNP Paribas Financial Markets' holdings in CECO Environmental were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in CECO Environmental during the fourth quarter worth $7,334,000. Van ECK Associates Corp increased 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 worth $16,267,000 after purchasing an additional 158,215 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CECO Environmental by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company's stock valued at $7,179,000 after purchasing an additional 1,967 shares during the period. Sei Investments Co. lifted its stake in CECO Environmental by 15.9% in the 4th quarter. Sei Investments Co. now owns 110,124 shares of the company's stock valued at $3,329,000 after purchasing an additional 15,104 shares during the last quarter. Finally, Barclays PLC lifted its stake in CECO Environmental by 115.0% in the 3rd quarter. Barclays PLC now owns 63,615 shares of the company's stock valued at $1,795,000 after purchasing an additional 34,027 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CECO has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price target on CECO Environmental from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. 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 research note on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental presently has an average rating of "Buy" and an average target price of $36.00.

Insider Activity at CECO Environmental

In other news, 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 value of $135,264.15. Following the transaction, the insider now directly owns 84,660 shares of the company's stock, valued at $2,044,539. The trade was a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.40% of the stock is currently owned by company insiders.

CECO Environmental Stock Performance

Shares of CECO traded down $0.49 during midday trading on Wednesday, reaching $27.29. 25,487 shares of the stock were exchanged, compared to its average volume of 283,539. The stock's 50 day simple moving average is $23.37 and its 200 day simple moving average is $26.63. The company has a market cap of $962.46 million, a P/E ratio of 82.70, a PEG ratio of 1.39 and a beta of 1.31. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $35.16. 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, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million during the quarter, compared to the consensus estimate of $151.53 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business's revenue was up 39.9% on a year-over-year basis. On average, sell-side analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

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.