Credit Agricole S A Trims Position in CECO Environmental Corp. $CECO

Key Points

• Credit Agricole S A has reduced its stake in CECO Environmental Corp. by 14.4%, selling 20,000 shares, and now holds 118,770 shares worth approximately $2.7 million.
• Several institutional investors, including Bank of America and Deutsche Bank, have increased their stakes in CECO Environmental, indicating a growing interest in the company.
• CECO Environmental's latest earnings report exceeded expectations with $0.24 earnings per share, surpassing the consensus estimate of $0.20.

Credit Agricole S A trimmed its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,770 shares of the company's stock after selling 20,000 shares during the quarter. Credit Agricole S A owned approximately 0.34% of CECO Environmental worth $2,708,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. King Luther Capital Management Corp increased its holdings in shares of CECO Environmental by 8.9% during the 1st quarter. King Luther Capital Management Corp now owns 1,126,104 shares of the company's stock valued at $25,675,000 after purchasing an additional 92,315 shares in the last quarter. Royce & Associates LP grew its stake in CECO Environmental by 3.3% in the 1st quarter. Royce & Associates LP now owns 945,002 shares of the company's stock valued at $21,546,000 after acquiring an additional 29,790 shares during the period. Voya Investment Management LLC grew its stake in CECO Environmental by 6,409.3% in the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock valued at $19,524,000 after acquiring an additional 635,931 shares during the period. Wellington Management Group LLP grew its stake in CECO Environmental by 74.6% in the 1st quarter. Wellington Management Group LLP now owns 541,980 shares of the company's stock valued at $12,357,000 after acquiring an additional 231,613 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in CECO Environmental by 5.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 442,969 shares of the company's stock valued at $10,100,000 after acquiring an additional 22,981 shares during the period. 68.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CECO Environmental

In other news, Director Jason Dezwirek sold 70,000 shares of CECO Environmental stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the transaction, the director owned 230,000 shares in the company, valued at $9,832,500. The trade was a 23.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of CECO Environmental stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total value of $830,200.00. Following the transaction, the director owned 77,589 shares in the company, valued at approximately $3,220,719.39. This represents a 20.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,000 shares of company stock worth $5,128,900. Insiders own 18.40% of the company's stock.

CECO Environmental Price Performance

CECO traded down $3.32 on Friday, hitting $43.38. 167,803 shares of the company's stock were exchanged, compared to its average volume of 309,123. CECO Environmental Corp. has a fifty-two week low of $17.57 and a fifty-two week high of $48.58. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $37.48 and a 200-day moving average price of $28.80. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 2.72 and a beta of 1.39.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CECO. Citigroup reissued an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Lake Street Capital reissued a "buy" rating and issued a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC lifted their price target on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Northland Securities set a $51.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. Finally, HC Wainwright lifted their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, CECO Environmental presently has an average rating of "Buy" and an average target price of $50.80.

CECO Environmental 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.