Invesco Ltd. Reduces Stake in CECO Environmental Corp. $CECO

Invesco Ltd. lessened its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 90.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,486 shares of the company's stock after selling 438,644 shares during the quarter. Invesco Ltd. owned 0.13% of CECO Environmental worth $1,083,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CECO. Mackenzie Financial Corp purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental in the fourth quarter valued at approximately $74,000. XTX Topco Ltd purchased a new position in shares of CECO Environmental in the first quarter valued at approximately $217,000. ProShare Advisors LLC purchased a new position in shares of CECO Environmental in the fourth quarter valued at approximately $249,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CECO Environmental by 7.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,652 shares of the company's stock worth $266,000 after buying an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CECO. HC Wainwright lifted their price objective on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Northland Securities set a $51.00 target price on CECO Environmental in a research note 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. Finally, Needham & Company LLC boosted their target price on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Six analysts have rated the stock with a Buy rating, According to MarketBeat, CECO Environmental presently has an average rating of "Buy" and a consensus price target of $50.80.

Insider Transactions at CECO Environmental

In other news, Director Jason Dezwirek sold 70,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 directly owned 230,000 shares of the company's stock, valued at approximately $9,832,500. This represents a 23.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Wallman bought 3,000 shares of the business's stock in a transaction dated Friday, August 29th. The shares were acquired at an average cost of $44.25 per share, with a total value of $132,750.00. Following the completion of the purchase, the director owned 219,909 shares in the company, valued at approximately $9,730,973.25. This represents a 1.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 120,000 shares of company stock valued at $5,128,900. Corporate insiders own 18.40% of the company's stock.

CECO Environmental Stock Down 3.3%

Shares of NASDAQ:CECO traded down $1.60 on Friday, hitting $47.17. 620,170 shares of the company's stock were exchanged, compared to its average volume of 320,502. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $50.00. 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 company has a market capitalization of $1.67 billion, a PE ratio of 32.99, a P/E/G ratio of 2.70 and a beta of 1.32. The firm's 50-day moving average is $39.20 and its 200 day moving average is $29.53.

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

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.