CECO Environmental Corp. $CECO Shares Purchased by New South Capital Management Inc.

New South Capital Management Inc. grew its holdings in CECO Environmental Corp. (TXSE:CECO) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306,414 shares of the company’s stock after buying an additional 49,087 shares during the quarter. CECO Environmental accounts for approximately 1.5% of New South Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. New South Capital Management Inc.’s holdings in CECO Environmental were worth $21,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Penn Capital Management Company LLC increased its position in shares of CECO Environmental by 3.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 245,011 shares of the company’s stock worth $17,088,000 after purchasing an additional 7,892 shares in the last quarter. Ethic Inc. boosted its position in CECO Environmental by 18.5% in the 3rd quarter. Ethic Inc. now owns 3,490 shares of the company’s stock valued at $243,000 after buying an additional 545 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of CECO Environmental by 15.9% in the 3rd quarter. Parallel Advisors LLC now owns 6,427 shares of the company’s stock valued at $448,000 after buying an additional 884 shares during the period. CenterBook Partners LP increased its stake in shares of CECO Environmental by 263.9% in the 3rd quarter. CenterBook Partners LP now owns 61,161 shares of the company’s stock valued at $4,259,000 after buying an additional 44,352 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of CECO Environmental by 841.6% during the third quarter. Sterling Capital Management LLC now owns 1,742 shares of the company’s stock worth $121,000 after acquiring an additional 1,557 shares during the last quarter. 68.08% of the stock is owned by institutional investors.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $53.50 on Thursday. The firm has a fifty day moving average of $63.67 and a two-hundred day moving average of $71.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 1.50. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -77.54 and a beta of 1.63. CECO Environmental Corp. has a 52 week low of $37.15 and a 52 week high of $101.24.

CECO Environmental (TXSE:CECO) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. The company had revenue of $404.43 million during the quarter, compared to the consensus estimate of $397.96 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. As a group, equities research analysts predict that CECO Environmental Corp. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CECO shares. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of CECO Environmental in a research note on Tuesday, August 11th. Zacks Research upgraded CECO Environmental from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. TD Cowen assumed coverage on CECO Environmental in a research report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on CECO Environmental from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Northland Securities set a $125.00 target price on shares of CECO Environmental in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.62.

About CECO Environmental

CECO Environmental Corp. (NASDAQ:CECO) is an industrial technology company that designs and supplies environmental and engineered equipment for industrial processes. Its solutions help customers control air pollution, manage industrial emissions, improve process efficiency and handle fluids in demanding operating environments. The company’s product and service offerings include air pollution control systems, industrial ventilation and filtration equipment, scrubbers, fans, dust collection systems, thermal and heat-transfer equipment, pumps and other fluid-handling technologies.