CECO Environmental Corp. (CECE) Position Decreased by Fmr LLC
Fmr LLC lowered its position in shares of CECO Environmental Corp. (NASDAQ:CECE) by 95.3% during the first quarter, Holdings Channel reports. The institutional investor owned 50,400 shares of the industrial products company’s stock after selling 1,029,800 shares during the period. Fmr LLC’s holdings in CECO Environmental Corp. were worth $530,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Boston Partners boosted its stake in shares of CECO Environmental Corp. by 27.9% in the first quarter. Boston Partners now owns 848,552 shares of the industrial products company’s stock worth $8,918,000 after buying an additional 185,100 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of CECO Environmental Corp. during the first quarter worth $1,203,000. LSV Asset Management bought a new stake in shares of CECO Environmental Corp. during the first quarter worth $104,000. Punch & Associates Investment Management Inc. boosted its stake in shares of CECO Environmental Corp. by 1.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 837,488 shares of the industrial products company’s stock worth $8,802,000 after buying an additional 8,010 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of CECO Environmental Corp. by 342.2% in the first quarter. Russell Investments Group Ltd. now owns 36,191 shares of the industrial products company’s stock worth $380,000 after buying an additional 28,007 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.
Shares of CECO Environmental Corp. (NASDAQ CECE) opened at 9.62 on Wednesday. CECO Environmental Corp. has a 12 month low of $8.94 and a 12 month high of $14.88. The company’s market capitalization is $331.51 million. The firm has a 50-day moving average of $9.67 and a 200 day moving average of $10.66.
CECO Environmental Corp. (NASDAQ:CECE) last announced its earnings results on Wednesday, August 9th. The industrial products company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.19 by $0.11. The business had revenue of $93.90 million for the quarter, compared to the consensus estimate of $99.09 million. CECO Environmental Corp. had a positive return on equity of 15.78% and a negative net margin of 10.15%. CECO Environmental Corp.’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. On average, equities research analysts expect that CECO Environmental Corp. will post $0.83 earnings per share for the current fiscal year.
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Several brokerages have commented on CECE. BidaskClub upgraded shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Needham & Company LLC upgraded shares of CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $9.51 to $13.00 in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.25.
About CECO Environmental Corp.
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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