Engineers Gate Manager LP Raises Stake in CECO Environmental Corp. $CECO

Key Points

• Engineers Gate Manager LP increased its CECO Environmental stake by 6,952.1% in the second quarter, adding 239,707 shares to own 243,155 shares valued at approximately $22.1 million. Institutional investors collectively hold 68.08% of the company.
• Analyst sentiment remains positive, with eight Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $104.88.
• CECO reported strong quarterly results, earning $0.47 per share versus the $0.26 consensus estimate, while revenue rose 53.7% year over year to $284.96 million. However, two insiders sold a combined 64,000 shares in June.

Engineers Gate Manager LP grew its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 6,952.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,155 shares of the company's stock after purchasing an additional 239,707 shares during the quarter. Engineers Gate Manager LP owned approximately 0.42% of CECO Environmental worth $22,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in CECO Environmental by 71.6% in the 2nd quarter. GAMMA Investing LLC now owns 369 shares of the company's stock worth $33,000 after buying an additional 154 shares during the period. Allworth Financial LP lifted its holdings in shares of CECO Environmental by 98.1% in the second quarter. Allworth Financial LP now owns 317 shares of the company's stock worth $29,000 after buying an additional 157 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of CECO Environmental by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 5,390 shares of the company's stock worth $323,000 after acquiring an additional 399 shares during the last quarter. Osaic Holdings Inc. grew its stake in CECO Environmental by 3.5% during the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company's stock valued at $348,000 after acquiring an additional 412 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in CECO Environmental in the 1st quarter valued at $29,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Lake Street Capital raised their price objective on CECO Environmental from $80.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Northland Securities set a $125.00 target price on CECO Environmental in a research report on Thursday, August 13th. TD Cowen started coverage on CECO Environmental in a research note on Wednesday, August 5th. They set a "buy" rating and a $85.00 price target for the company. Weiss Ratings upgraded CECO Environmental from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price objective on shares of CECO Environmental in a research note on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.88.

Insider Buying and Selling

In other news, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total value of $3,284,740.00. Following the completion of the transaction, the director owned 166,000 shares in the company, valued at approximately $16,037,260. The trade was a 17.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter K. Johansson sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the transaction, the chief financial officer directly owned 40,746 shares in the company, valued at approximately $3,931,581.54. This represents a 42.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 18.40% of the company's stock.

CECO Environmental Stock Performance

CECO Environmental stock opened at $78.30 on Thursday. The company's 50-day moving average price is $75.16 and its 200-day moving average price is $73.89. CECO Environmental Corp. has a twelve month low of $42.82 and a twelve month high of $101.24. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.59 billion, a PE ratio of -113.48 and a beta of 1.51.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. The firm had revenue of $284.96 million for the quarter, compared to analysts' expectations of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The business's revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. On average, equities research analysts forecast that CECO Environmental Corp. will post 2.43 EPS for the current fiscal year.

About CECO Environmental

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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