Two Sigma Advisers LP Has $1.44 Million Stake in CECO Environmental Corp. (NASDAQ:CECO)

Two Sigma Advisers LP lessened its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 37.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,542 shares of the company's stock after selling 29,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.14% of CECO Environmental worth $1,437,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CECO. Heck Capital Advisors LLC bought a new stake in CECO Environmental during the fourth quarter worth $74,000. Jones Financial Companies Lllp grew its holdings in CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock worth $90,000 after purchasing an additional 1,658 shares during the period. KLP Kapitalforvaltning AS acquired a new position in CECO Environmental during the fourth quarter worth approximately $218,000. ProShare Advisors LLC bought a new position in shares of CECO Environmental during the 4th quarter worth approximately $249,000. Finally, Bard Associates Inc. acquired a new position in shares of CECO Environmental during the 4th quarter worth approximately $251,000. Institutional investors and hedge funds own 68.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CECO. HC Wainwright raised CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price target for the company in a report on Wednesday, April 30th. Needham & Company LLC raised 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, April 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $36.00.

Insiders Place Their Bets

In related news, insider Peter K. Johansson sold 5,601 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total transaction of $135,264.15. Following the sale, the insider now owns 84,660 shares of the company's stock, valued at $2,044,539. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 18.40% of the company's stock.

CECO Environmental Stock Performance

NASDAQ:CECO traded down $1.06 during mid-day trading on Wednesday, hitting $26.72. 184,441 shares of the stock were exchanged, compared to its average volume of 284,728. The firm's 50-day simple moving average is $23.43 and its 200 day simple moving average is $26.63. The stock has a market capitalization of $942.36 million, a price-to-earnings ratio of 80.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. CECO Environmental Corp. has a fifty-two week low of $17.57 and a fifty-two week high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

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.