Advantage Alpha Capital Partners LP Boosts Position in CECO Environmental Corp. $CECO

Key Points

• Advantage Alpha Capital Partners LP increased its holdings in CECO Environmental Corp. by 35.6%, owning approximately 267,006 shares worth about $6.1 million as of the latest reporting period.
• Multiple institutional investors, including JPMorgan and Voya Investment Management, have recently boosted their stakes or entered new positions in CECO, highlighting increasing institutional interest in the company.
• CECO Environmental reported a better-than-expected quarterly earnings per share of $0.24, surpassing analysts' estimates and showcasing a solid revenue growth of $185.39 million for the period.

Advantage Alpha Capital Partners LP increased its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 35.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,006 shares of the company's stock after purchasing an additional 70,102 shares during the period. CECO Environmental accounts for approximately 1.5% of Advantage Alpha Capital Partners LP's portfolio, making the stock its 12th largest position. Advantage Alpha Capital Partners LP owned 0.76% of CECO Environmental worth $6,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp acquired a new position in CECO Environmental in the fourth quarter valued at $56,000. Heck Capital Advisors LLC acquired a new position in CECO Environmental in the fourth quarter valued at $74,000. XTX Topco Ltd acquired a new position in CECO Environmental in the first quarter valued at $217,000. ProShare Advisors LLC acquired a new position in CECO Environmental in the fourth quarter valued at $249,000. Finally, Two Sigma Securities LLC acquired a new position in CECO Environmental in the fourth quarter valued at $262,000. Institutional investors and hedge funds own 68.08% of the company's stock.

Insider Buying and Selling

In other news, Director Jason Dezwirek sold 70,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total value of $2,992,500.00. Following the completion of the sale, the director owned 230,000 shares of the company's stock, valued at approximately $9,832,500. The trade was a 23.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Claudio A. Mannarino sold 20,000 shares of the stock in a transaction dated 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 $3,220,719.39. This trade represents a 20.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,000 shares of company stock worth $5,128,900. Insiders own 16.90% of the company's stock.

CECO Environmental Stock Performance

CECO Environmental stock traded down $0.53 during mid-day trading on Wednesday, reaching $47.56. The company had a trading volume of 156,684 shares, compared to its average volume of 307,783. 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 52 week low of $17.57 and a 52 week high of $48.58. The company has a 50 day moving average of $36.78 and a 200-day moving average of $28.54. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.77 and a beta of 1.39.

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

Analyst Ratings Changes

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

About CECO Environmental

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.