BNP Paribas Financial Markets Sells 42,159 Shares of CECO Environmental Corp. (NASDAQ:CECO)

BNP Paribas Financial Markets cut its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 73.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,087 shares of the company’s stock after selling 42,159 shares during the quarter. BNP Paribas Financial Markets’ holdings in CECO Environmental were worth $425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 increased its holdings 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 purchasing an additional 708 shares during the last quarter. Quest Partners LLC bought a new stake in shares of CECO Environmental in the third quarter worth about $69,000. Eastern Bank bought a new stake in shares of CECO Environmental in the third quarter worth about $113,000. Finally, SG Americas Securities LLC bought a new stake in CECO Environmental during the second quarter worth approximately $201,000. 68.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CECO. Needham & Company LLC reduced their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and a consensus price target of $34.40.

CECO Environmental Stock Down 1.9 %

CECO Environmental stock opened at $32.11 on Friday. The business has a fifty day moving average of $28.30 and a two-hundred day moving average of $27.63. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.12 billion, a P/E ratio of 97.30, a P/E/G ratio of 2.92 and a beta of 1.41. CECO Environmental Corp. has a twelve month low of $18.50 and a twelve month high of $35.16.

CECO Environmental (NASDAQ:CECO) last released 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 net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. During the same period in the previous year, the company earned $0.22 earnings per share. CECO Environmental’s revenue was down 9.3% on a year-over-year basis. On average, 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.