Northern Trust Corp raised its position in CECO Environmental Corp. (NASDAQ:CECE) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,100 shares of the industrial products company’s stock after purchasing an additional 26,434 shares during the quarter. Northern Trust Corp owned about 0.95% of CECO Environmental worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in shares of CECO Environmental in the second quarter valued at approximately $101,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CECO Environmental by 9.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,513 shares of the industrial products company’s stock valued at $2,023,000 after purchasing an additional 29,400 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of CECO Environmental by 124.0% in the second quarter. Janney Montgomery Scott LLC now owns 80,756 shares of the industrial products company’s stock valued at $496,000 after purchasing an additional 44,700 shares during the period. Trigran Investments Inc. increased its stake in shares of CECO Environmental by 1.8% in the second quarter. Trigran Investments Inc. now owns 4,364,505 shares of the industrial products company’s stock valued at $26,798,000 after purchasing an additional 76,999 shares during the period. Finally, Putnam Investments LLC increased its stake in shares of CECO Environmental by 237.2% in the second quarter. Putnam Investments LLC now owns 470,112 shares of the industrial products company’s stock valued at $2,886,000 after purchasing an additional 330,700 shares during the period. Institutional investors own 65.07% of the company’s stock.
CECO Environmental stock opened at $8.31 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $281.00 million, a PE ratio of 53.60, a P/E/G ratio of 1.85 and a beta of 0.92. CECO Environmental Corp. has a 12-month low of $4.00 and a 12-month high of $9.18.
CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $88.26 million during the quarter, compared to analysts’ expectations of $83.50 million. CECO Environmental had a negative net margin of 6.20% and a positive return on equity of 2.81%. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.29 EPS for the current fiscal year.
Several brokerages have commented on CECE. Needham & Company LLC raised their price target on shares of CECO Environmental from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Roth Capital set a $8.00 price target on shares of CECO Environmental and gave the company a “hold” rating in a research note on Thursday, August 9th. ValuEngine upgraded shares of CECO Environmental from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 8th. BidaskClub upgraded shares of CECO Environmental from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research upgraded shares of CECO Environmental from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Monday, November 12th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CECO Environmental presently has an average rating of “Buy” and a consensus price target of $8.92.
In related news, Director David B. Liner acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was acquired at an average cost of $7.86 per share, for a total transaction of $39,300.00. Following the completion of the acquisition, the director now directly owns 37,860 shares of the company’s stock, valued at approximately $297,579.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 13.44% of the company’s stock.
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CECO Environmental Profile
CECO Environmental Corp. provides critical solutions to the environmental, energy, and fluid handling and filtration industries worldwide. The company operates through three segments: Energy, Environmental, and Fluid Handling and Filtration. The Energy segment offers gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction and selective non-catalytic reduction systems, acoustical components and silencers, secondary separators, and expansion joints for the power and petrochemical industries.
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