Loomis Sayles & Co. L P Sells 16,416 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Loomis Sayles & Co. L P lessened its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 384,196 shares of the company’s stock after selling 16,416 shares during the period. Loomis Sayles & Co. L P’s holdings in CECO Environmental were worth $10,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in CECO Environmental by 185.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock worth $6,641,000 after acquiring an additional 152,893 shares during the period. First Horizon Advisors Inc. raised its holdings in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after purchasing an additional 591 shares during the period. Quest Partners LLC purchased a new position in CECO Environmental during the third quarter valued at $69,000. Principal Financial Group Inc. increased its position in CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after buying an additional 3,330 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of CECO Environmental by 466.4% in the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after buying an additional 312,803 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reduced their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Northland Securities raised their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum upped their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a report on Wednesday, October 30th. Finally, Roth Mkm increased their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental has a consensus rating of “Buy” and a consensus target price of $34.40.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 19.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is currently owned by insiders.

CECO Environmental Stock Down 1.7 %

CECO opened at $31.88 on Thursday. The company has a market capitalization of $1.12 billion, a PE ratio of 96.61, a price-to-earnings-growth ratio of 2.80 and a beta of 1.35. The firm has a 50-day simple moving average of $27.10 and a two-hundred day simple moving average of $26.96. 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 Corp. has a 52 week low of $18.50 and a 52 week high of $33.52.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same period in the previous year, the company posted $0.22 earnings per share. CECO Environmental’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current fiscal year.

CECO Environmental Company 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.