CECO Environmental Corp. (NASDAQ:CECO) Director Sells $1,306,200.00 in Stock

Key Points

• Jason Dezwirek, a director at CECO Environmental, sold 30,000 shares for $1,306,200, decreasing his ownership by 13.04%. He now holds 200,000 shares valued at approximately $8.7 million.
• In its latest earnings report, CECO Environmental beat analyst estimates with $0.24 earnings per share and $185.39 million in revenue for the quarter.
• Several brokerages have set new price targets for CECO Environmental, with the highest being $56.00, indicating a strong outlook on the stock with a consensus rating of "Buy."

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Jason Dezwirek sold 30,000 shares of CECO Environmental stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.54, for a total value of $1,306,200.00. Following the transaction, the director directly owned 200,000 shares in the company, valued at approximately $8,708,000. This trade represents a 13.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, July 30th, Jason Dezwirek sold 70,000 shares of CECO Environmental stock. The stock was sold at an average price of $42.75, for a total transaction of $2,992,500.00.

CECO Environmental Stock Performance

CECO stock traded up $0.83 during trading on Friday, hitting $45.78. 552,942 shares of the company's stock traded hands, compared to its average volume of 296,776. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 3.04 and a beta of 1.33. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $45.95. The stock has a fifty day moving average price of $30.26 and a two-hundred day moving average price of $26.52. The company has a quick ratio of 1.52, a current ratio of 1.34 and a debt-to-equity ratio of 0.78.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The business had revenue of $185.39 million during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CECO. Northland Securities set a $51.00 price objective on CECO Environmental in a research report on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research report on Wednesday. HC Wainwright increased their price objective on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday. Lake Street Capital reaffirmed a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a research report on Wednesday. Finally, Needham & Company LLC upped their price target on CECO Environmental from $34.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental has a consensus rating of "Buy" and a consensus price target of $49.20.

Institutional Trading of CECO Environmental

Hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC raised its holdings in shares of CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock valued at $52,623,000 after buying an additional 673,050 shares during the last quarter. Voya Investment Management LLC raised its stake in CECO Environmental by 6,409.3% during the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock valued at $19,524,000 after acquiring an additional 635,931 shares in the last quarter. Granahan Investment Management LLC acquired a new stake in CECO Environmental in the first quarter worth about $7,237,000. Raymond James Financial Inc. bought a new position in CECO Environmental in the 4th quarter valued at about $7,334,000. Finally, Wellington Management Group LLP increased its stake in CECO Environmental by 74.6% during the 1st quarter. Wellington Management Group LLP now owns 541,980 shares of the company's stock valued at $12,357,000 after buying an additional 231,613 shares during the period. 68.08% of the stock is currently owned by institutional investors.

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.

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