Alpine Global Management LLC Acquires Shares of 10,839 CECO Environmental Corp. $CECO

Key Points

• Alpine Global Management LLC acquired a new stake in CECO Environmental Corp. by purchasing 10,839 shares valued at around $247,000 in the first quarter.
• Multiple institutional investors, including Caption Management LLC and Wellington Management Group, have significantly increased their holdings in CECO Environmental, with total institutional ownership reaching 68.08%.
• Analysts have generally rated CECO Environmental with a "Buy" consensus, with an average target price of $50.80, following a strong quarterly earnings report that exceeded expectations.

Alpine Global Management LLC bought a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,839 shares of the company's stock, valued at approximately $247,000.

A number of other institutional investors have also recently modified their holdings of CECO. Mackenzie Financial Corp acquired a new position in CECO Environmental in the 4th quarter worth about $56,000. Heck Capital Advisors LLC bought a new position in shares of CECO Environmental in the fourth quarter valued at approximately $74,000. Caption Management LLC bought a new position in shares of CECO Environmental in the first quarter valued at approximately $182,000. XTX Topco Ltd bought a new stake in CECO Environmental during the first quarter worth $217,000. Finally, ProShare Advisors LLC bought a new stake in shares of CECO Environmental in the fourth quarter valued at $249,000. 68.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CECO has been the subject of several research analyst reports. HC Wainwright lifted 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. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Needham & Company LLC upped their price target on CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Lake Street Capital reiterated a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a report 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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $50.80.

CECO Environmental Trading Up 5.0%

Shares of CECO Environmental stock traded up $2.34 on Thursday, hitting $48.77. 500,938 shares of the company traded hands, compared to its average volume of 318,482. The stock's 50 day moving average price is $38.82 and its 200-day moving average price is $29.36. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $49.44. The company has a market cap of $1.72 billion, a PE ratio of 34.11, a PEG ratio of 2.65 and a beta of 1.32.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. Equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insiders Place Their Bets

In related news, Director Claudio A. Mannarino sold 20,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total transaction of $830,200.00. Following the completion of the transaction, the director owned 77,589 shares in the company, valued at $3,220,719.39. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard F. Wallman purchased 3,000 shares of CECO Environmental stock in a transaction that occurred on Friday, August 29th. The shares were bought at an average price of $44.25 per share, with a total value of $132,750.00. Following the transaction, the director owned 219,909 shares in the company, valued at approximately $9,730,973.25. The trade was a 1.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 120,000 shares of company stock valued at $5,128,900. 16.90% of the stock is currently owned by insiders.

About CECO Environmental

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.