Continuum Advisory LLC Sells 37,444 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Continuum Advisory LLC decreased its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,886 shares of the company's stock after selling 37,444 shares during the quarter. Continuum Advisory LLC owned approximately 0.21% of CECO Environmental worth $1,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in shares of CECO Environmental in the fourth quarter valued at approximately $56,000. Heck Capital Advisors LLC bought a new stake in CECO Environmental in the 4th quarter valued at $74,000. Jones Financial Companies Lllp grew its holdings in CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after buying an additional 1,658 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in CECO Environmental in the 4th quarter valued at $218,000. Finally, ProShare Advisors LLC acquired a new stake in shares of CECO Environmental during the fourth quarter worth $249,000. 68.08% of the stock is owned by institutional investors.

CECO Environmental Price Performance

Shares of NASDAQ:CECO traded up $0.82 during trading on Thursday, reaching $30.06. 279,033 shares of the company traded hands, compared to its average volume of 285,578. The firm has a market capitalization of $1.06 billion, a PE ratio of 23.30, a PEG ratio of 2.02 and a beta of 1.35. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $35.16. 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 company's 50 day moving average is $25.97 and its two-hundred day moving average is $26.27.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly 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 the consensus estimate of $151.53 million. CECO Environmental had a return on equity of 10.10% and a net margin of 7.80%. The company's revenue for the quarter was up 39.9% on a year-over-year basis. As a group, sell-side analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Transactions at CECO Environmental

In related news, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction that occurred on Monday, March 31st. The shares were 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 of the company's stock, valued at $1,417,248. This trade represents a 26.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 18.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CECO. Needham & Company LLC upped their price target on shares of CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. HC Wainwright raised shares of 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average 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.