Kornitzer Capital Management Inc. KS Buys New Holdings in CECO Environmental Corp. $CECO

Key Points

• Kornitzer Capital Management opened a new position in CECO Environmental in Q1, buying 12,015 shares valued at about $716,000.
• CECO reported strong quarterly results, with EPS of $0.36 versus $0.12 expected and revenue of $205.92 million, up 16.5% year over year.
• Analysts remain bullish on the stock, with several firms raising price targets and the consensus rating sitting at Buy with an average target of $106.71.

Kornitzer Capital Management Inc. KS purchased a new position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,015 shares of the company's stock, valued at approximately $716,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP purchased a new position in CECO Environmental in the third quarter valued at $7,680,000. Peregrine Asset Advisers Inc. lifted its holdings in CECO Environmental by 142.1% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company's stock worth $6,815,000 after buying an additional 66,843 shares during the last quarter. Boothbay Fund Management LLC boosted its position in shares of CECO Environmental by 83.4% during the 3rd quarter. Boothbay Fund Management LLC now owns 56,403 shares of the company's stock worth $2,888,000 after acquiring an additional 25,657 shares in the last quarter. Navellier & Associates Inc. boosted its position in shares of CECO Environmental by 48.5% during the 4th quarter. Navellier & Associates Inc. now owns 42,455 shares of the company's stock worth $2,541,000 after acquiring an additional 13,860 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of CECO Environmental by 638.3% in the 4th quarter. SG Americas Securities LLC now owns 80,736 shares of the company's stock valued at $4,832,000 after acquiring an additional 69,800 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company's stock.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $83.63 on Monday. The stock's 50 day moving average price is $85.90 and its 200 day moving average price is $71.89. The company has a market capitalization of $3.00 billion, a PE ratio of 226.03 and a beta of 1.47. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 52-week low of $29.84 and a 52-week high of $101.24.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $205.92 million during the quarter, compared to analysts' expectations of $198.88 million. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The firm's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, research analysts anticipate that CECO Environmental Corp. will post 1.96 EPS for the current year.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman purchased 20,000 shares of CECO Environmental stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $76.85 per share, for a total transaction of $1,537,000.00. Following the transaction, the director directly owned 105,500 shares in the company, valued at $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jason Dezwirek sold 34,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the sale, the director owned 166,000 shares of the company's stock, valued at approximately $16,037,260. This represents a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.90% of the company's stock.

Wall Street Analyst Weigh In

CECO has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on CECO Environmental from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a research note on Thursday. They issued an "overweight" rating and a $130.00 price target on the stock. Lake Street Capital raised their price objective 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. Weiss Ratings downgraded shares of CECO Environmental from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Finally, Northland Securities set a $118.00 target price on shares of CECO Environmental in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, CECO Environmental presently has an average rating of "Buy" and a consensus target price of $106.71.

CECO Environmental Company 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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