Granahan Investment Management LLC Sells 125,810 Shares of CECO Environmental Corp. $CECO

Key Points

• Granahan Investment Management cut its CECO Environmental stake by 53.6% in the fourth quarter, selling 125,810 shares and ending with 108,889 shares worth about $6.5 million.
• Several analysts remain bullish on CECO, with recent buy ratings and higher price targets from firms like Lake Street and Needham; the consensus rating is Buy with an average target of $102.83.
• CECO reported strong quarterly results, beating earnings and revenue estimates, while director Richard F. Wallman boosted his position by buying 20,000 shares in early June.

Granahan Investment Management LLC lessened its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 53.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,889 shares of the company's stock after selling 125,810 shares during the quarter. Granahan Investment Management LLC owned about 0.31% of CECO Environmental worth $6,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,780,596 shares of the company's stock worth $106,569,000 after buying an additional 9,840 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of CECO Environmental by 16,844.6% in the third quarter. American Century Companies Inc. now owns 1,257,796 shares of the company's stock worth $64,399,000 after buying an additional 1,250,373 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CECO Environmental by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 729,700 shares of the company's stock worth $43,680,000 after buying an additional 8,734 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of CECO Environmental by 3.0% in the fourth quarter. William Blair Investment Management LLC now owns 706,273 shares of the company's stock worth $42,270,000 after buying an additional 20,531 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of CECO Environmental by 36.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 672,147 shares of the company's stock worth $40,229,000 after buying an additional 178,892 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CECO. Zacks Research raised shares of CECO Environmental from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Craig Hallum reissued a "buy" rating and issued a $103.00 price target on shares of CECO Environmental in a report on Tuesday, April 28th. Lake Street Capital increased their price target on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Needham & Company LLC increased their price target on shares of CECO Environmental from $90.00 to $110.00 and gave the stock a "buy" rating in a 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 report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CECO Environmental currently has a consensus rating of "Buy" and an average price target of $102.83.

CECO Environmental Trading Down 2.6%

Shares of CECO opened at $92.55 on Wednesday. The firm's 50 day simple moving average is $77.13 and its 200 day simple moving average is $67.78. The company has a market capitalization of $3.32 billion, a P/E ratio of 250.14 and a beta of 1.49. 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 Corp. has a 1-year low of $27.50 and a 1-year high of $101.24.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.24. The business had revenue of $205.92 million for the quarter, compared to the consensus estimate of $198.88 million. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. CECO Environmental's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. Sell-side analysts forecast that CECO Environmental Corp. will post 1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard F. Wallman bought 20,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the completion of the purchase, the director directly owned 105,500 shares of the company's stock, valued at $8,107,675. This trade represents a 23.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 16.90% of the stock is owned by corporate insiders.

CECO Environmental 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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