Great Lakes Advisors LLC Sells 25,788 Shares of CECO Environmental Corp. $CECO

Key Points

• Great Lakes Advisors LLC reduced its stake in CECO Environmental Corp. by 16.1%, owning 134,332 shares worth about $3.06 million after the sale.
• Insider activity included Director Jason Dezwirek selling 30,000 shares for approximately $1.31 million, while Director Richard F. Wallman purchased 3,000 shares for around $140,790.
• CECO Environmental reported earnings of $0.24 per share for the last quarter, exceeding the consensus estimate of $0.20, with revenues of $185.39 million against expectations of $178.66 million.

Great Lakes Advisors LLC reduced its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,332 shares of the company's stock after selling 25,788 shares during the quarter. Great Lakes Advisors LLC owned 0.38% of CECO Environmental worth $3,063,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of CECO Environmental by 118.8% during the 4th quarter. Bank of America Corp DE now owns 100,484 shares of the company's stock valued at $3,038,000 after purchasing an additional 54,551 shares during the period. Rhumbline Advisers lifted its position in shares of CECO Environmental by 3.8% during the 1st quarter. Rhumbline Advisers now owns 42,146 shares of the company's stock valued at $961,000 after buying an additional 1,532 shares in the last quarter. American Century Companies Inc. lifted its position in shares of CECO Environmental by 8.6% during the 1st quarter. American Century Companies Inc. now owns 57,272 shares of the company's stock valued at $1,306,000 after buying an additional 4,552 shares in the last quarter. Deutsche Bank AG lifted its position in shares of CECO Environmental by 52.2% during the 4th quarter. Deutsche Bank AG now owns 25,994 shares of the company's stock valued at $786,000 after buying an additional 8,910 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CECO Environmental by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company's stock valued at $2,664,000 after buying an additional 13,930 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CECO Environmental news, Director Jason Dezwirek sold 30,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $43.54, for a total value of $1,306,200.00. Following the sale, the director owned 200,000 shares in the company, valued at $8,708,000. This trade represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total value of $830,200.00. Following the completion of the sale, the director owned 77,589 shares in the company, valued at approximately $3,220,719.39. The trade was a 20.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 7,500 shares of company stock worth $339,915 and have sold 120,000 shares worth $5,128,900. Insiders own 16.90% of the company's stock.

CECO Environmental Trading Down 0.4%

CECO stock traded down $0.21 during midday trading on Tuesday, reaching $49.13. The company's stock had a trading volume of 104,963 shares, compared to its average volume of 323,610. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. The stock has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $30.72. CECO Environmental Corp. has a 1 year low of $17.57 and a 1 year high of $50.41. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 2.80 and a beta of 1.32.

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

Analysts Set New Price Targets

CECO has been the topic of a number of analyst reports. HC Wainwright lifted their price objective on CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Northland Securities set a $51.00 price objective on CECO Environmental in a research report on Wednesday, July 30th. Needham & Company LLC lifted their price objective on CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Finally, Lake Street Capital reaffirmed a "buy" rating and set a $56.00 price objective 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.com, CECO Environmental presently has a consensus rating of "Buy" and an average price target 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.