317,416 Shares in CECO Environmental Corp. $CECO Acquired by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC has invested approximately $7.24 million in CECO Environmental Corp., acquiring 317,416 shares, which represents about 0.90% ownership of the company.
• CECO Environmental's stock has performed well, opening at $48.77, with a baseline of a 12-month high of $49.44 and a low of $17.57.
• The company recently beat earnings estimates, reporting $0.24 earnings per share against the consensus estimate of $0.20, while also setting FY 2025 guidance for earnings.

Granahan Investment Management LLC acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 317,416 shares of the company's stock, valued at approximately $7,237,000. Granahan Investment Management LLC owned 0.90% of CECO Environmental at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in shares of CECO Environmental in the fourth quarter valued at $56,000. Heck Capital Advisors LLC acquired a new position in CECO Environmental during the fourth quarter valued at $74,000. Caption Management LLC purchased a new stake in CECO Environmental in the 1st quarter worth about $182,000. XTX Topco Ltd purchased a new stake in CECO Environmental in the 1st quarter worth about $217,000. Finally, Alpine Global Management LLC purchased a new stake in CECO Environmental in the 1st quarter worth about $247,000. Institutional investors and hedge funds own 68.08% of the company's stock.

Insider Activity

In related news, 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 transaction of $830,200.00. Following the completion of the sale, the director directly owned 77,589 shares of the company's stock, valued at $3,220,719.39. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard F. Wallman bought 3,000 shares of the firm's stock in a transaction on Friday, September 5th. The stock was acquired at an average cost of $46.93 per share, with a total value of $140,790.00. Following the completion of the purchase, the director owned 80,500 shares of the company's stock, valued at approximately $3,777,865. This trade represents a 3.87% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,500 shares of company stock valued at $339,915 and sold 120,000 shares valued at $5,128,900. Insiders own 16.90% of the company's stock.

CECO Environmental Stock Performance

Shares of CECO stock traded up $1.48 during mid-day trading on Wednesday, reaching $46.76. The stock had a trading volume of 117,970 shares, compared to its average volume of 322,485. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.65 billion, a PE ratio of 32.70, a P/E/G ratio of 2.63 and a beta of 1.32. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $50.00. The firm's 50 day simple moving average is $40.21 and its 200 day simple moving average is $30.02.

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

Analyst Ratings Changes

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

CECO Environmental Company 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.