Gordian Capital Singapore Pte Ltd Acquires 21,517 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Gordian Capital Singapore Pte Ltd raised its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 153.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 35,500 shares of the company’s stock after acquiring an additional 21,517 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in CECO Environmental were worth $1,001,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SageView Advisory Group LLC grew its stake in CECO Environmental by 89.4% in the third quarter. SageView Advisory Group LLC now owns 28,840 shares of the company’s stock valued at $813,000 after acquiring an additional 13,615 shares during the period. Morse Asset Management Inc acquired a new position in shares of CECO Environmental during the third quarter worth about $76,000. HighTower Advisors LLC grew its holdings in shares of CECO Environmental by 25.4% during the third quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock worth $501,000 after buying an additional 3,581 shares in the last quarter. Centiva Capital LP acquired a new stake in CECO Environmental in the 3rd quarter valued at approximately $287,000. Finally, Fred Alger Management LLC boosted its position in CECO Environmental by 135.9% during the 3rd quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock worth $8,821,000 after acquiring an additional 180,221 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CECO. Needham & Company LLC cut their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of CECO Environmental in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Trading Up 0.1 %

Shares of NASDAQ:CECO opened at $32.74 on Monday. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $33.52. 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 company has a market capitalization of $1.15 billion, a P/E ratio of 99.22, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41. The company has a 50-day simple moving average of $27.72 and a 200 day simple moving average of $27.37.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. During the same period in the previous year, the business earned $0.22 earnings per share. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Sell-side analysts forecast that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

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.