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

New South Capital Management Inc. boosted its stake 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 Securities & Exchange Commission. The firm owned 306,414 shares of the company’s stock after acquiring an additional 49,087 shares during the quarter. CECO Environmental comprises about 1.5% of New South Capital Management Inc.’s holdings, making the stock its 23rd largest holding. New South Capital Management Inc. owned approximately 0.52% of CECO Environmental worth $21,339,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CECO. Allworth Financial LP purchased a new stake in shares of CECO Environmental during the second quarter valued at approximately $29,000. GAMMA Investing LLC boosted its stake in shares of CECO Environmental by 71.6% in the second quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after purchasing an additional 154 shares during the period. KBC Group NV acquired a new stake in CECO Environmental during the 1st quarter valued at $44,000. Fifth Third Bancorp acquired a new stake in CECO Environmental during the 1st quarter valued at $69,000. Finally, Ulland Investment Advisors LLC acquired a new stake in CECO Environmental during the 3rd quarter valued at $99,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analyst Ratings Changes

CECO has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of CECO Environmental in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on CECO Environmental from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday. Northland Securities set a $125.00 price target on CECO Environmental in a report on Thursday, August 13th. Zacks Research upgraded CECO Environmental from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Finally, TD Cowen started coverage on CECO Environmental in a report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price objective on the stock. One equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.62.

CECO Environmental Price Performance

Shares of TXSE:CECO opened at $53.50 on Thursday. CECO Environmental Corp. has a 1 year low of $37.15 and a 1 year high of $101.24. The business has a fifty day simple moving average of $63.67 and a 200 day simple moving average of $71.05. The company has a current ratio of 1.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -77.54 and a beta of 1.63.

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

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.