CECO Environmental Corp. (NASDAQ:CECO) Director Sells $2,992,500.00 in Stock

Key Points

• Jason Dezwirek, a director at CECO Environmental Corp., sold 70,000 shares at an average price of $42.75, resulting in a total transaction value of approximately $2.99 million, decreasing his ownership stake by 23.33%.
• CECO Environmental reported $0.24 earnings per share for the last quarter, exceeding the consensus estimate of $0.20, with revenues reaching $185.39 million.
• A number of research firms have upgraded their price targets for CECO Environmental, with HC Wainwright raising it from $33 to $55, reflecting a consensus "Buy" rating among analysts.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Jason Dezwirek sold 70,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the sale, the director directly owned 230,000 shares in the company, valued at $9,832,500. This trade represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jason Dezwirek also recently made the following trade(s):

• On Thursday, July 31st, Jason Dezwirek sold 30,000 shares of CECO Environmental stock. The stock was sold at an average price of $43.54, for a total transaction of $1,306,200.00.

CECO Environmental Trading Down 1.2%

Shares of NASDAQ CECO traded down $0.56 during mid-day trading on Tuesday, reaching $44.28. The company had a trading volume of 98,975 shares, compared to its average volume of 302,281. The business's 50-day moving average is $30.97 and its 200-day moving average is $26.65. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 2.63 and a beta of 1.39. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $46.06.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The company had revenue of $185.39 million for the quarter, compared to analysts' expectations of $178.66 million. Equities analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Hedge Funds Weigh In On CECO Environmental

Several institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in CECO Environmental by 224.7% during the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock worth $41,000 after purchasing an additional 1,000 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of CECO Environmental during the fourth quarter worth approximately $56,000. Heck Capital Advisors LLC purchased a new stake in shares of CECO Environmental during the fourth quarter worth approximately $74,000. Caption Management LLC purchased a new stake in shares of CECO Environmental during the first quarter worth approximately $182,000. Finally, XTX Topco Ltd purchased a new stake in shares of CECO Environmental during the first quarter worth approximately $217,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CECO shares. Needham & Company LLC lifted their target price on shares of CECO Environmental from $34.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. HC Wainwright lifted their target price on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Northland Securities set a $51.00 target price on shares of CECO Environmental in a report on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. Finally, Lake Street Capital reaffirmed a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $49.20.

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.