Private Advisor Group LLC Purchases New Holdings in CECO Environmental Corp. (CECE)

Private Advisor Group LLC bought a new position in shares of CECO Environmental Corp. (NASDAQ:CECE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,180 shares of the industrial products company’s stock, valued at approximately $101,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CECE. Dimensional Fund Advisors LP raised its position in shares of CECO Environmental by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,039,460 shares of the industrial products company’s stock valued at $9,076,000 after buying an additional 95,688 shares during the last quarter. American Century Companies Inc. boosted its stake in CECO Environmental by 5.4% during the first quarter. American Century Companies Inc. now owns 1,291,905 shares of the industrial products company’s stock worth $5,749,000 after buying an additional 65,958 shares during the period. Foundry Partners LLC boosted its stake in CECO Environmental by 25.0% during the first quarter. Foundry Partners LLC now owns 925,773 shares of the industrial products company’s stock worth $4,120,000 after buying an additional 185,120 shares during the period. LSV Asset Management boosted its stake in CECO Environmental by 3.6% during the first quarter. LSV Asset Management now owns 658,015 shares of the industrial products company’s stock worth $2,928,000 after buying an additional 22,700 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in CECO Environmental by 9.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,513 shares of the industrial products company’s stock worth $2,023,000 after buying an additional 29,400 shares during the period. Institutional investors own 65.56% of the company’s stock.

In other CECO Environmental news, Director Jonathan Pollack bought 15,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were purchased at an average price of $8.61 per share, for a total transaction of $129,150.00. Following the transaction, the director now directly owns 37,364 shares of the company’s stock, valued at approximately $321,704.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 13.44% of the company’s stock.

CECO Environmental stock opened at $7.77 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.45 and a current ratio of 1.65. CECO Environmental Corp. has a 12 month low of $4.00 and a 12 month high of $9.41. The company has a market capitalization of $275.10 million, a price-to-earnings ratio of 29.11, a P/E/G ratio of 1.95 and a beta of 1.13.

CECO Environmental (NASDAQ:CECE) last released its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. CECO Environmental had a positive return on equity of 1.55% and a negative net margin of 1.18%. The business had revenue of $81.09 million for the quarter, compared to analyst estimates of $73.00 million. Sell-side analysts expect that CECO Environmental Corp. will post 0.27 earnings per share for the current year.

CECE has been the subject of a number of recent analyst reports. BidaskClub lowered shares of CECO Environmental from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Roth Capital set a $8.00 price objective on CECO Environmental and gave the company a “hold” rating in a report on Thursday, August 9th. Needham & Company LLC lifted their price objective on CECO Environmental from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of CECO Environmental from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Finally, ValuEngine downgraded shares of CECO Environmental from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. CECO Environmental has an average rating of “Hold” and an average target price of $9.00.

CECO Environmental Profile

CECO Environmental Corp. provides critical solutions to the environmental, energy, and fluid handling and filtration industries worldwide. The company operates through three segments: Energy, Environmental, and Fluid Handling and Filtration. The Energy segment offers gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction and selective non-catalytic reduction systems, acoustical components and silencers, secondary separators, and expansion joints for the power and petrochemical industries.

See Also: Technical Analysis

Institutional Ownership by Quarter for CECO Environmental (NASDAQ:CECE)

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