BlackRock Inc. Makes New Investment in CECO Environmental Corp. $CECO

Key Points

• BlackRock acquired a 12.05% stake in CECO Environmental during the second quarter, purchasing 4.32 million shares valued at approximately $392.4 million. Institutional investors and hedge funds collectively own 68.08% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and a consensus “Moderate Buy” rating. The average price target is $104.88, with individual targets reaching as high as $130.
• CECO reported quarterly EPS of $0.47, surpassing the $0.26 consensus estimate, while revenue rose 53.7% year over year to $284.96 million. However, company insiders, including the CFO and a director, recently sold shares totaling more than $6.1 million.

BlackRock Inc. acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,323,986 shares of the company's stock, valued at approximately $392,358,000. BlackRock Inc. owned approximately 12.05% of CECO Environmental as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of CECO Environmental by 15.6% during the 1st quarter. Royal Bank of Canada now owns 14,661 shares of the company's stock valued at $335,000 after buying an additional 1,982 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CECO Environmental by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,442 shares of the company's stock worth $398,000 after acquiring an additional 790 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CECO Environmental by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,137 shares of the company's stock worth $2,124,000 after acquiring an additional 5,000 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of CECO Environmental during the 1st quarter worth $1,047,000. Finally, Rhumbline Advisers increased its stake in shares of CECO Environmental by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 43,137 shares of the company's stock worth $1,221,000 after purchasing an additional 991 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on CECO shares. Roth Capital reissued a "buy" rating and set a $85.00 target price on shares of CECO Environmental in a research report on Wednesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price target on shares of CECO Environmental in a research report on Tuesday, August 11th. Lake Street Capital upped their price target on CECO Environmental from $80.00 to $111.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Northland Securities set a $125.00 price objective on CECO Environmental in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. started coverage on CECO Environmental in a research note on Thursday, July 9th. They issued an "overweight" rating and a $130.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.88.

CECO Environmental Price Performance

NASDAQ CECO opened at $70.27 on Wednesday. The stock has a 50-day simple moving average of $79.80 and a 200 day simple moving average of $74.09. CECO Environmental Corp. has a twelve month low of $42.78 and a twelve month high of $101.24. The stock has a market capitalization of $4.12 billion, a PE ratio of -101.84 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 1.50.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The firm had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The company's revenue was up 53.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. Research analysts anticipate that CECO Environmental Corp. will post 2.35 EPS for the current year.

Insider Activity

In related news, Director Jason Dezwirek sold 34,000 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the transaction, the director owned 166,000 shares of the company's stock, valued at approximately $16,037,260. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter K. Johansson sold 30,000 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the transaction, the chief financial officer owned 40,746 shares of the company's stock, valued at approximately $3,931,581.54. The trade was a 42.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by company insiders.

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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