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

Loomis Sayles & Co. L P cut its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,196 shares of the company’s stock after selling 16,416 shares during the quarter. Loomis Sayles & Co. L P owned approximately 1.10% of CECO Environmental worth $10,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $6,641,000 after acquiring an additional 152,893 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. Quest Partners LLC purchased a new position in shares of CECO Environmental during the third quarter valued at about $69,000. Principal Financial Group Inc. raised its stake 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 lifted its holdings in 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

CECO has been the topic of a number of research analyst reports. Roth Mkm upped their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Craig Hallum increased their price objective on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC dropped their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Northland Securities increased their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.40.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction on Friday, August 30th. The shares were acquired at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 19.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.90% of the stock is currently owned by insiders.

CECO Environmental Price Performance

CECO opened at $31.88 on Thursday. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $33.52. The stock has a 50-day moving average price of $27.10 and a 200-day moving average price of $26.96. The firm has a market cap of $1.12 billion, a PE ratio of 96.61, a P/E/G ratio of 2.80 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same period last year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. Sell-side analysts predict 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.