Two Sigma Investments LP Has $1.46 Million Stake in CECO Environmental Corp. (NASDAQ:CECO)

Two Sigma Investments LP lessened its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,118 shares of the company's stock after selling 10,349 shares during the quarter. Two Sigma Investments LP owned about 0.14% of CECO Environmental worth $1,455,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its stake in shares of 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 acquiring an additional 1,658 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in CECO Environmental during the 4th quarter worth $218,000. ProShare Advisors LLC bought a new stake in shares of CECO Environmental in the 4th quarter worth about $249,000. Bard Associates Inc. bought a new stake in shares of CECO Environmental in the 4th quarter worth about $251,000. Finally, Two Sigma Securities LLC bought a new stake in shares of CECO Environmental in the 4th quarter worth about $262,000. Institutional investors and hedge funds own 68.08% of the company's stock.

CECO Environmental Price Performance

NASDAQ:CECO traded down $0.57 during trading hours on Friday, reaching $26.19. 232,172 shares of the company's stock were exchanged, compared to its average volume of 285,116. The company has a market capitalization of $923.67 million, a P/E ratio of 79.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.35. CECO Environmental Corp. has a 12 month low of $17.57 and a 12 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. The business's 50-day simple moving average is $23.57 and its two-hundred day simple moving average is $26.60.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $176.70 million during the quarter, compared to analysts' expectations of $151.53 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm's revenue was up 39.9% compared to the same quarter last year. Sell-side analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CECO. Needham & Company LLC increased their price objective 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. 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 report on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental presently has an average rating of "Buy" and a consensus price target of $36.00.

Insider Buying and Selling

In related news, insider Peter K. Johansson sold 5,601 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the completion of the sale, the insider now owns 84,660 shares in the company, valued at approximately $2,044,539. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.40% of the stock is currently owned by insiders.

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.