Bank of America Corp DE trimmed its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 39.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,339 shares of the company's stock after selling 49,640 shares during the period. Bank of America Corp DE owned approximately 0.21% of CECO Environmental worth $4,548,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in CECO Environmental by 8.0% during the 4th quarter. ProShare Advisors LLC now owns 5,390 shares of the company's stock valued at $323,000 after purchasing an additional 399 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of CECO Environmental by 3.5% in the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company's stock valued at $348,000 after buying an additional 412 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CECO Environmental during the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of CECO Environmental during the third quarter valued at about $25,000. Finally, Swiss National Bank increased its position in shares of CECO Environmental by 1.0% during the first quarter. Swiss National Bank now owns 59,900 shares of the company's stock worth $3,569,000 after acquiring an additional 600 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.
CECO Environmental Price Performance
CECO opened at $69.67 on Friday. The firm has a 50-day moving average price of $78.21 and a 200-day moving average price of $74.07. CECO Environmental Corp. has a twelve month low of $42.78 and a twelve month high of $101.24. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -100.97 and a beta of 1.51.
CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The company had revenue of $284.96 million for the quarter, compared to analysts' expectations of $282.21 million. During the same period in the prior year, the company posted $0.26 EPS. CECO Environmental's revenue was up 53.7% compared to the same quarter last year. Equities analysts expect that CECO Environmental Corp. will post 2.35 EPS for the current year.
Insiders Place Their Bets
In related news, Director Richard F. Wallman purchased 20,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the completion of the acquisition, the director directly owned 105,500 shares of the company's stock, valued at approximately $8,107,675. The trade was a 23.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Peter K. Johansson sold 30,000 shares of CECO Environmental stock in a transaction on Wednesday, June 24th. The shares were 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 owned 40,746 shares of the company's stock, valued at approximately $3,931,581.54. This trade represents a 42.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 18.40% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on CECO shares. JPMorgan Chase & Co. began coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They issued an "overweight" rating and a $130.00 price target on the stock. Northland Securities set a $125.00 target price on CECO Environmental in a research report on Thursday, August 13th. Needham & Company LLC reiterated a "buy" rating and set a $110.00 price target on shares of CECO Environmental in a report on Tuesday, August 11th. TD Cowen began coverage on CECO Environmental in a research report on Wednesday, August 5th. They issued a "buy" rating and a $85.00 price target for the company. Finally, Lake Street Capital raised their price objective on CECO Environmental from $80.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, CECO Environmental presently has an average rating of "Moderate Buy" and a consensus price target of $104.88.
Check Out Our Latest Analysis on CECO
CECO Environmental Company Profile
(
Free Report)
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.
Further Reading
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