CECO Environmental Corp. $CECO Shares Sold by Great Lakes Advisors LLC

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 trimmed its holdings 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 and Exchange Commission (SEC). The institutional investor owned 134,332 shares of the company's stock after selling 25,788 shares during the period. Great Lakes Advisors LLC owned about 0.38% of CECO Environmental worth $3,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp purchased a new position in CECO Environmental during the fourth quarter worth about $56,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental in the 4th quarter valued at $74,000. Caption Management LLC purchased a new position in CECO Environmental in the first quarter valued at about $182,000. ProShare Advisors LLC purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $249,000. Finally, XTX Topco Ltd acquired a new stake in shares of CECO Environmental in the first quarter valued at about $217,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Jason Dezwirek sold 30,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.54, for a total transaction of $1,306,200.00. Following the transaction, the director owned 200,000 shares of the company's stock, valued at approximately $8,708,000. This trade represents a 13.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman purchased 3,000 shares of CECO Environmental stock in a transaction dated Friday, September 5th. The stock was bought 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 in the company, 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 three months, insiders have acquired 7,500 shares of company stock worth $339,915 and have sold 120,000 shares worth $5,128,900. 18.40% of the stock is owned by insiders.

CECO Environmental Stock Performance

CECO stock traded up $0.47 during trading on Friday, hitting $48.13. 385,654 shares of the company's stock traded hands, compared to its average volume of 431,348. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $50.00. The stock has a fifty day moving average price of $41.31 and a two-hundred day moving average price of $30.47. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly 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 analysts' expectations of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CECO shares. HC Wainwright upped their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. Northland Securities set a $51.00 price objective on shares of CECO Environmental in a report on Wednesday, July 30th. Needham & Company LLC lifted their target price on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Finally, Lake Street Capital reiterated a "buy" rating and issued a $56.00 price target on shares of CECO Environmental in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, CECO Environmental presently has an average rating of "Buy" and a consensus 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.