Thrivent Financial for Lutherans Purchases 15,176 Shares of CECO Environmental Corp. $CECO

Thrivent Financial for Lutherans grew its position in CECO Environmental Corp. (NASDAQ:CECO) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 757,433 shares of the company’s stock after purchasing an additional 15,176 shares during the period. Thrivent Financial for Lutherans owned about 2.14% of CECO Environmental worth $21,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC raised its stake in CECO Environmental by 0.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,941,741 shares of the company’s stock worth $54,971,000 after buying an additional 14,073 shares during the period. King Luther Capital Management Corp increased its holdings in shares of CECO Environmental by 4.6% in the second quarter. King Luther Capital Management Corp now owns 1,177,461 shares of the company’s stock worth $33,334,000 after acquiring an additional 51,357 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of CECO Environmental by 4.9% during the second quarter. William Blair Investment Management LLC now owns 945,897 shares of the company’s stock worth $26,778,000 after purchasing an additional 44,310 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CECO Environmental by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 712,331 shares of the company’s stock valued at $20,168,000 after purchasing an additional 18,501 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in CECO Environmental by 3.4% during the 1st quarter. Voya Investment Management LLC now owns 668,072 shares of the company’s stock worth $15,232,000 after purchasing an additional 22,219 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

Insider Transactions at CECO Environmental

In related news, CEO Todd R. Gleason sold 98,101 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $50.45, for a total transaction of $4,949,195.45. Following the completion of the transaction, the chief executive officer directly owned 410,835 shares of the company’s stock, valued at approximately $20,726,625.75. This represents a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 300,000 shares of company stock worth $15,104,854 in the last 90 days. Corporate insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Northland Securities set a $60.00 price target on shares of CECO Environmental in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CECO Environmental in a research report on Wednesday, October 8th. Needham & Company LLC upped their target price on shares of CECO Environmental from $57.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Zacks Research raised CECO Environmental from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.20.

CECO Environmental Stock Performance

Shares of CECO opened at $60.89 on Wednesday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 43.18 and a beta of 1.37. CECO Environmental Corp. has a 12 month low of $17.57 and a 12 month high of $63.98. The firm has a fifty day simple moving average of $52.35 and a 200 day simple moving average of $44.03. The company has a current ratio of 1.33, a quick ratio of 1.13 and a debt-to-equity ratio of 0.70.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. CECO Environmental had a net margin of 7.22% and a return on equity of 10.84%. The firm had revenue of $197.60 million for the quarter, compared to analyst estimates of $190.36 million. During the same period in the previous year, the business earned $0.14 EPS. The company’s revenue was up 45.8% compared to the same quarter last year. Research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

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.