Bosun Asset Management LLC Sells 7,145 Shares of CECO Environmental Corp. $CECO

Key Points

• Bosun Asset Management LLC reduced its stake in CECO Environmental Corp. by 18.8%, owning 30,845 shares valued at $703,000 after selling 7,145 shares.
• CECO Environmental's stock reached a 12-month high of $48.58 and reported a quarterly earnings per share (EPS) of $0.24, exceeding analyst expectations.
• Multiple institutional investors, including Wellington Management, significantly increased their holdings in CECO Environmental during the first quarter, highlighting growing investor confidence.

Bosun Asset Management LLC cut its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,845 shares of the company's stock after selling 7,145 shares during the quarter. Bosun Asset Management LLC owned about 0.09% of CECO Environmental worth $703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CECO. Bank of America Corp DE lifted its stake in CECO Environmental by 118.8% during the 4th quarter. Bank of America Corp DE now owns 100,484 shares of the company's stock valued at $3,038,000 after acquiring an additional 54,551 shares during the period. Rhumbline Advisers lifted its stake in CECO Environmental by 3.8% during the 1st quarter. Rhumbline Advisers now owns 42,146 shares of the company's stock valued at $961,000 after acquiring an additional 1,532 shares during the period. American Century Companies Inc. lifted its stake in CECO Environmental by 8.6% during the 1st quarter. American Century Companies Inc. now owns 57,272 shares of the company's stock valued at $1,306,000 after acquiring an additional 4,552 shares during the period. Deutsche Bank AG lifted its stake in CECO Environmental by 52.2% during the 4th quarter. Deutsche Bank AG now owns 25,994 shares of the company's stock valued at $786,000 after acquiring an additional 8,910 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in CECO Environmental by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company's stock valued at $2,664,000 after acquiring an additional 13,930 shares during the period. 68.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CECO Environmental

In related news, Director Claudio A. Mannarino sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the completion of the transaction, the director directly owned 77,589 shares of the company's stock, valued at approximately $3,220,719.39. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason Dezwirek sold 30,000 shares of the firm's 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 transaction, the director owned 200,000 shares of the company's stock, valued at $8,708,000. This represents a 13.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,000 shares of company stock worth $5,128,900. Insiders own 16.90% of the company's stock.

CECO Environmental Price Performance

NASDAQ CECO traded down $2.05 during trading hours on Monday, reaching $45.12. The company's stock had a trading volume of 468,051 shares, compared to its average volume of 321,280. The firm's 50-day moving average price is $39.55 and its 200-day moving average price is $29.76. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 1 year low of $17.57 and a 1 year high of $50.00. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 2.75 and a beta of 1.32.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The business had revenue of $185.39 million during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. On average, equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Needham & Company LLC lifted their price objective on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Northland Securities set a $51.00 price objective on CECO Environmental in a report on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. HC Wainwright lifted their price objective on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Lake Street Capital reaffirmed a "buy" rating and issued a $56.00 price objective on shares of CECO Environmental in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, CECO Environmental presently has a consensus rating of "Buy" and a consensus target price of $50.80.

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.