Truvestments Capital LLC Has $218,000 Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Truvestments Capital LLC reduced its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,723 shares of the company’s stock after selling 552 shares during the quarter. Truvestments Capital LLC’s holdings in CECO Environmental were worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of CECO Environmental by 185.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock worth $6,641,000 after purchasing an additional 152,893 shares during the period. First Horizon Advisors Inc. grew its position in CECO Environmental by 71.6% during the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock worth $40,000 after buying an additional 591 shares in the last quarter. Quest Partners LLC bought a new position in CECO Environmental during the third quarter valued at about $69,000. Principal Financial Group Inc. raised its holdings in CECO Environmental by 17.6% in the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock valued at $627,000 after acquiring an additional 3,330 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of CECO Environmental by 466.4% in the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after acquiring an additional 312,803 shares during the period. 68.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard F. Wallman purchased 10,000 shares of CECO Environmental stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This represents a 19.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CECO has been the topic of a number of research reports. Northland Securities boosted their price objective on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday, October 30th. Roth Mkm lifted their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC cut their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Stock Up 5.2 %

CECO opened at $32.99 on Tuesday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 99.97, a PEG ratio of 2.66 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The firm’s 50-day simple moving average is $27.01 and its 200-day simple moving average is $26.90. CECO Environmental Corp. has a twelve month low of $18.50 and a twelve month high of $33.52.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same period in the prior year, the company posted $0.22 earnings per share. CECO Environmental’s quarterly revenue was down 9.3% compared to the same quarter last year. Equities research analysts anticipate that CECO Environmental Corp. will post 0.79 EPS for the current fiscal year.

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.