30,025 Shares in CECO Environmental Corp. $CECO Acquired by Empirical Asset Management LLC

Key Points

• Empirical Asset Management acquired 30,025 CECO Environmental shares worth approximately $2.7 million, while institutional investors collectively own 68.08% of the company.
• CECO reported quarterly EPS of $0.47, surpassing the $0.26 analyst estimate, with revenue up 53.7% year over year to $284.96 million. The stock was trading at $76.55, down 9.0%.
• Analyst sentiment remains a “Moderate Buy,” with an average price target of $104.88, although recent ratings included both an upgrade-related hold cut and a sell downgrade. CFO Peter Johansson sold 30,000 shares, while director Richard Wallman purchased 20,000 shares.

Empirical Asset Management LLC acquired a new stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 30,025 shares of the company's stock, valued at approximately $2,724,000. Empirical Asset Management LLC owned approximately 0.08% of CECO Environmental at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of CECO Environmental by 71.6% during the 2nd quarter. GAMMA Investing LLC now owns 369 shares of the company's stock worth $33,000 after purchasing an additional 154 shares in the last quarter. ProShare Advisors LLC lifted its position in CECO Environmental by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 5,390 shares of the company's stock worth $323,000 after purchasing an additional 399 shares during the period. Osaic Holdings Inc. lifted its position in CECO Environmental by 3.5% during the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company's stock worth $348,000 after purchasing an additional 412 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in CECO Environmental during the first quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in CECO Environmental during the third quarter worth about $25,000. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Trading Down 9.0%

CECO opened at $76.55 on Wednesday. The company's 50 day moving average is $82.04 and its 200-day moving average is $73.98. CECO Environmental Corp. has a 1-year low of $42.78 and a 1-year high of $101.24. 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 company has a market cap of $2.75 billion, a P/E ratio of -110.94 and a beta of 1.51.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.21. The business had revenue of $284.96 million during the quarter, compared to analysts' expectations of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The firm's quarterly revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. Equities research analysts predict that CECO Environmental Corp. will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

CECO has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $110.00 price target on shares of CECO Environmental in a report on Tuesday, August 11th. Zacks Research cut shares of CECO Environmental from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Roth Capital restated a "buy" rating and set a $85.00 price objective on shares of CECO Environmental in a research report on Wednesday, April 29th. Weiss Ratings cut CECO Environmental from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Finally, TD Cowen began coverage on CECO Environmental in a report on Wednesday, August 5th. They issued a "buy" rating and a $85.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $104.88.

Insiders Place Their Bets

In other news, CFO Peter K. Johansson sold 30,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total value of $2,894,700.00. Following the completion of the transaction, the chief financial officer directly owned 40,746 shares in the company, valued at approximately $3,931,581.54. This represents a 42.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Wallman acquired 20,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $76.85 per share, for a total transaction of $1,537,000.00. Following the acquisition, the director owned 105,500 shares in the company, valued at $8,107,675. This represents a 23.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 16.90% of the company's stock.

CECO Environmental Profile

CECO Environmental Corp. NASDAQ: CECO is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO's core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.

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