CECO Environmental Corp. $CECO Shares Sold by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management reduced its CECO Environmental stake by 15.6% in the first quarter, selling 28,448 shares and ending with 154,307 shares valued at about $9.2 million.
• Wall Street sentiment on CECO remains upbeat, with analysts largely rating the stock a Buy and setting an average price target of $102.83, above the recent trading price of $90.74.
• CECO posted strong quarterly results, beating expectations with $0.36 EPS versus $0.12 expected and revenue of $205.92 million, up 16.5% year over year; meanwhile, CFO Peter K. Johansson sold 30,000 shares and a director bought 20,000 shares.

Peregrine Capital Management LLC lowered its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 15.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,307 shares of the company's stock after selling 28,448 shares during the quarter. Peregrine Capital Management LLC owned about 0.43% of CECO Environmental worth $9,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in CECO Environmental during the third quarter worth about $25,000. Morton Brown Family Wealth LLC acquired a new stake in shares of CECO Environmental during the 1st quarter worth approximately $29,000. Aventura Private Wealth LLC purchased a new stake in shares of CECO Environmental during the 4th quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new position in CECO Environmental in the third quarter valued at approximately $31,000. Finally, Comerica Bank lifted its holdings in CECO Environmental by 10,578.6% in the fourth quarter. Comerica Bank now owns 1,495 shares of the company's stock valued at $89,000 after acquiring an additional 1,481 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CECO shares. Craig Hallum reaffirmed a "buy" rating and issued a $103.00 price target on shares of CECO Environmental in a research note on Tuesday, April 28th. Roth Mkm restated a "buy" rating and issued a $85.00 price objective on shares of CECO Environmental in a report on Wednesday, April 29th. Northland Securities set a $118.00 target price on shares of CECO Environmental in a research report on Friday, June 12th. Zacks Research raised shares of CECO Environmental from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Finally, Lake Street Capital boosted their price target on shares of CECO Environmental from $80.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $102.83.

CECO Environmental Price Performance

CECO opened at $90.74 on Wednesday. The stock's 50-day moving average price is $83.39 and its 200 day moving average price is $70.64. CECO Environmental Corp. has a 12-month low of $28.26 and a 12-month high of $101.24. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 245.24 and a beta of 1.49. The company has a current ratio of 1.33, a quick ratio of 1.18 and a debt-to-equity ratio of 0.78.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. The company had revenue of $205.92 million during the quarter, compared to the consensus estimate of $198.88 million. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.CECO Environmental's revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. As a group, sell-side analysts expect that CECO Environmental Corp. will post 1.96 earnings per share for the current year.

Insider Activity

In other CECO Environmental news, CFO Peter K. Johansson sold 30,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 40,746 shares in the company, valued at $3,931,581.54. This represents a 42.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Wallman purchased 20,000 shares of the firm's stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the transaction, the director directly owned 105,500 shares in the company, valued at $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 16.90% of the company's stock.

CECO Environmental Company 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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