Two Sigma Investments LP Sells 10,349 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Two Sigma Investments LP cut its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,118 shares of the company’s stock after selling 10,349 shares during the quarter. Two Sigma Investments LP owned about 0.14% of CECO Environmental worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CECO. Jones Financial Companies Lllp raised its stake in shares of CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after purchasing an additional 1,658 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in CECO Environmental during the fourth quarter valued at approximately $218,000. ProShare Advisors LLC bought a new position in CECO Environmental during the fourth quarter valued at approximately $249,000. Bard Associates Inc. bought a new position in CECO Environmental during the fourth quarter valued at approximately $251,000. Finally, Two Sigma Securities LLC purchased a new stake in CECO Environmental during the fourth quarter valued at approximately $262,000. 68.08% of the stock is owned by institutional investors.

Insider Transactions at CECO Environmental

In other CECO Environmental news, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the sale, the insider now owns 62,160 shares of the company’s stock, valued at approximately $1,417,248. The trade was a 26.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 18.40% of the company’s stock.

CECO Environmental Trading Up 2.7%

Shares of NASDAQ:CECO opened at $27.78 on Wednesday. CECO Environmental Corp. has a 12-month low of $17.57 and a 12-month high of $35.16. The business’s fifty day simple moving average is $23.37 and its 200-day simple moving average is $26.63. The company has a market capitalization of $979.75 million, a PE ratio of 84.18, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $176.70 million during the quarter, compared to analysts’ expectations of $151.53 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s revenue was up 39.9% compared to the same quarter last year. As a group, equities research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. HC Wainwright upgraded CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Wednesday, April 30th. Needham & Company LLC raised their price objective on CECO Environmental from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has a consensus rating of “Buy” and a consensus target price of $36.00.

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.