Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of CECO Environmental Corp. (NASDAQ:CECE – Get Rating) by 12.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 230,661 shares of the industrial products company’s stock after selling 32,456 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.64% of CECO Environmental worth $1,437,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its holdings in CECO Environmental by 106.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,324 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 4,298 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in CECO Environmental during the 3rd quarter valued at about $91,000. SG Americas Securities LLC bought a new position in CECO Environmental during the 3rd quarter valued at about $139,000. Royal Bank of Canada lifted its holdings in CECO Environmental by 9.7% during the 3rd quarter. Royal Bank of Canada now owns 19,889 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in CECO Environmental during the 1st quarter valued at about $233,000. 65.37% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CECE opened at $5.47 on Friday. CECO Environmental Corp. has a one year low of $4.09 and a one year high of $9.16. The company has a 50 day moving average of $5.16 and a 200-day moving average of $5.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.60 and a quick ratio of 1.47. The stock has a market cap of $191.72 million, a price-to-earnings ratio of 68.38, a P/E/G ratio of 0.78 and a beta of 1.22.
In related news, Director Richard F. Wallman purchased 13,087 shares of the business’s stock in a transaction on Monday, March 21st. The shares were purchased at an average price of $5.87 per share, with a total value of $76,820.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 17,893 shares of company stock worth $103,170. Insiders own 13.50% of the company’s stock.
Several equities analysts recently issued reports on CECE shares. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of CECO Environmental in a report on Tuesday, March 15th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of CECO Environmental in a research report on Tuesday, March 15th. StockNews.com started coverage on shares of CECO Environmental in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Lake Street Capital started coverage on shares of CECO Environmental in a research report on Friday, April 29th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, TheStreet cut shares of CECO Environmental from a “c” rating to a “d+” rating in a research report on Monday, March 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $12.67.
CECO Environmental Company Profile (Get Rating)
CECO Environmental Corp. provides industrial air quality and fluid handling systems worldwide. It operates in two segments: Engineered Systems Segment and Industrial Process Solutions Segment. The company engineers, designs, builds, and installs systems that capture, clean, and destroy air- and water-borne emissions from industrial facilities as well as fluid handling, gas separation, and filtration systems.
- Get a free copy of the StockNews.com research report on CECO Environmental (CECE)
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