Granahan Investment Management LLC Has $5.53 Million Position in CECO Environmental Corp. $CECO

Key Points

• Granahan Investment Management cut its CECO Environmental stake by 14.8% in the first quarter, but still held 92,728 shares valued at about $5.53 million at quarter-end.
• CECO shares have been active among insiders and institutions: director Jason Dezwirek sold 34,000 shares, while director Richard F. Wallman bought 20,000 shares. Institutional investors continue to own the majority of the stock, at 68.08%.
• CECO reported better-than-expected quarterly results, with earnings of $0.36 per share versus the $0.12 consensus and revenue of $205.92 million, up 16.5% year over year. Analysts remain bullish overall, with an average rating of Buy and an average target price of $106.71.

Granahan Investment Management LLC lowered its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 14.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,728 shares of the company's stock after selling 16,161 shares during the quarter. Granahan Investment Management LLC owned about 0.26% of CECO Environmental worth $5,525,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Peregrine Asset Advisers Inc. boosted its holdings in CECO Environmental by 142.1% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company's stock valued at $6,815,000 after acquiring an additional 66,843 shares during the period. Navellier & Associates Inc. increased its stake in shares of CECO Environmental by 48.5% in the fourth quarter. Navellier & Associates Inc. now owns 42,455 shares of the company's stock worth $2,541,000 after purchasing an additional 13,860 shares during the period. SG Americas Securities LLC increased its stake in shares of CECO Environmental by 638.3% in the fourth quarter. SG Americas Securities LLC now owns 80,736 shares of the company's stock worth $4,832,000 after purchasing an additional 69,800 shares during the period. Moran Wealth Management LLC acquired a new position in shares of CECO Environmental during the 4th quarter worth about $691,000. Finally, Capital World Investors acquired a new position in shares of CECO Environmental during the 4th quarter worth about $19,936,000. Institutional investors own 68.08% of the company's stock.

Insider Activity

In related news, Director Jason Dezwirek sold 34,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total value of $3,284,740.00. Following the sale, the director owned 166,000 shares of the company's stock, valued at $16,037,260. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard F. Wallman purchased 20,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $8,107,675. This represents a 23.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 18.40% of the stock is owned by company insiders.

CECO Environmental Stock Down 5.0%

Shares of CECO stock opened at $75.63 on Friday. The stock has a market cap of $2.71 billion, a P/E ratio of 204.41 and a beta of 1.47. CECO Environmental Corp. has a one year low of $33.08 and a one year high of $101.24. The stock has a fifty day moving average price of $85.50 and a 200 day moving average price of $73.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.24. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. The firm had revenue of $205.92 million for the quarter, compared to the consensus estimate of $198.88 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business's revenue was up 16.5% compared to the same quarter last year. Analysts predict that CECO Environmental Corp. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. initiated coverage on CECO Environmental in a report on Thursday, July 9th. They issued an "overweight" rating and a $130.00 target price on the stock. Roth Capital reiterated a "buy" rating and set a $85.00 price target on shares of CECO Environmental in a report on Wednesday, April 29th. Northland Securities set a $118.00 price objective on CECO Environmental in a research report on Friday, June 12th. Lake Street Capital increased 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. Finally, Weiss Ratings downgraded shares of CECO Environmental from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $106.71.

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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