CECO Environmental Corp. $CECO Shares Acquired by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its ownership in CECO Environmental Corp. by 9.2%, holding 72,727 shares worth approximately $2.06 million at the end of the second quarter.
• Insider activity showed Director Richard F. Wallman purchased 3,000 shares while Director Jason Dezwirek sold 70,000 shares, indicating varied confidence among company insiders.
• CECO Environmental stock experienced a 3.2% decline, with a current market price of $49.05 and a one-year range of $17.57 to $52.46.

Harbor Capital Advisors Inc. raised its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 9.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,727 shares of the company's stock after purchasing an additional 6,126 shares during the period. Harbor Capital Advisors Inc. owned 0.21% of CECO Environmental worth $2,059,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp acquired a new position in shares of CECO Environmental during the fourth quarter worth $56,000. Heck Capital Advisors LLC acquired a new position in shares of CECO Environmental during the fourth quarter worth $74,000. Caption Management LLC acquired a new position in shares of CECO Environmental during the first quarter worth $182,000. ProShare Advisors LLC acquired a new position in shares of CECO Environmental during the fourth quarter worth $249,000. Finally, XTX Topco Ltd acquired a new position in shares of CECO Environmental during the first quarter worth $217,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Down 4.4%

Shares of CECO Environmental stock traded down $2.26 during trading on Friday, hitting $48.89. 1,728,660 shares of the stock were exchanged, compared to its average volume of 483,216. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.32. The firm's 50-day moving average price is $43.26 and its 200 day moving average price is $31.39. CECO Environmental Corp. has a 12-month low of $17.57 and a 12-month high of $52.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.13.

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, beating analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The firm had revenue of $185.39 million during the quarter, compared to analysts' expectations of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Northland Securities set a $51.00 target price on CECO Environmental 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. Lake Street Capital reissued a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC raised their price target on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Finally, HC Wainwright raised their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $50.80.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Claudio A. Mannarino sold 20,000 shares of CECO Environmental stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total value of $830,200.00. Following the transaction, the director directly owned 77,589 shares in the company, valued at approximately $3,220,719.39. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jason Dezwirek sold 70,000 shares of CECO Environmental stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the completion of the transaction, the director owned 230,000 shares in the company, valued at approximately $9,832,500. This represents a 23.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 currently owned by company insiders.

CECO Environmental 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.