Thrivent Financial for Lutherans Buys 204,392 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Thrivent Financial for Lutherans boosted its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 53.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 584,712 shares of the company’s stock after purchasing an additional 204,392 shares during the period. Thrivent Financial for Lutherans’ holdings in CECO Environmental were worth $17,676,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in shares of CECO Environmental by 27.2% in the 4th quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock worth $27,667,000 after buying an additional 195,425 shares during the last quarter. King Luther Capital Management Corp boosted its position in CECO Environmental by 2.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock worth $31,251,000 after purchasing an additional 23,239 shares during the last quarter. Clare Market Investments LLC bought a new stake in shares of CECO Environmental during the 4th quarter valued at about $529,000. OFI Invest Asset Management purchased a new stake in shares of CECO Environmental during the 4th quarter valued at about $522,000. Finally, Amundi lifted its stake in shares of CECO Environmental by 5.2% in the 4th quarter. Amundi now owns 184,606 shares of the company’s stock worth $5,865,000 after purchasing an additional 9,184 shares during the period. Institutional investors own 68.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CECO shares. Craig Hallum upped their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Northland Securities lifted their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of CECO Environmental in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.20.

CECO Environmental Price Performance

Shares of CECO Environmental stock opened at $24.31 on Friday. The company has a market capitalization of $850.61 million, a price-to-earnings ratio of 73.67, a PEG ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $26.36 and its 200-day simple moving average is $27.79. CECO Environmental Corp. has a 52 week low of $20.00 and a 52 week high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $156.09 million. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 1,000 shares of CECO Environmental stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the acquisition, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.90% of the company’s stock.

CECO Environmental Company 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.