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 the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $43.54, for a total value of $1,306,200.00. Following the completion of the sale, the director directly owned 200,000 shares of the company's stock, valued at $8,708,000. The trade was a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $42.75, for a total value of $2,992,500.00.

CECO Environmental Price Performance

NASDAQ:CECO traded down $0.56 during trading hours on Tuesday, hitting $44.28. The company's stock 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 two-hundred day moving average is $26.65. The company has a market capitalization of $1.56 billion, a PE ratio of 30.99, a PEG ratio of 2.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. 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 announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. The business had revenue of $185.39 million during the quarter, compared to analysts' expectations of $178.66 million. As a group, research analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CECO. Citigroup reissued an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. 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 research note on Tuesday, July 29th. Lake Street Capital restated a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. HC Wainwright upped their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Northland Securities set a $51.00 price target on CECO Environmental in a research note on Wednesday, July 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, 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 added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its holdings in shares of CECO Environmental by 224.7% in the 2nd 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 position in shares of CECO Environmental in the 4th quarter worth about $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental in the 4th quarter worth about $74,000. Caption Management LLC purchased a new stake in shares of CECO Environmental during the 1st quarter valued at about $182,000. Finally, XTX Topco Ltd purchased a new stake in shares of CECO Environmental during the 1st quarter valued at about $217,000. 68.08% of the stock is owned by institutional investors and hedge funds.

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.