Cynosure Group LLC Makes New Investment in CECO Environmental Corp. (NASDAQ:CECO)

Cynosure Group LLC acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 13,124 shares of the company’s stock, valued at approximately $370,000.

Several other hedge funds have also recently modified their holdings of CECO. Essex Investment Management Co. LLC increased its holdings in CECO Environmental by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock valued at $5,878,000 after acquiring an additional 562 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of CECO Environmental by 71.6% in the third 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 last quarter. CWM LLC lifted its position in shares of CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares in the last quarter. Private Advisor Group LLC boosted its stake in CECO Environmental by 5.8% during the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after buying an additional 885 shares during the last quarter. Finally, Kessler Investment Group LLC grew its holdings in CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after buying an additional 1,560 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a report on Wednesday, October 30th. Needham & Company LLC decreased their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Northland Securities lifted their price objective 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental has a consensus rating of “Buy” and an average price target of $34.40.

CECO Environmental Stock Performance

NASDAQ CECO opened at $31.88 on Friday. The company has a market cap of $1.12 billion, a P/E ratio of 96.61, a P/E/G ratio of 2.80 and a beta of 1.35. The business’s 50 day moving average price is $27.17 and its 200-day moving average price is $26.99. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $33.52. 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) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. Sell-side analysts predict that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

About CECO Environmental

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.