Needham Investment Management LLC Purchases 123,500 Shares of CECO Environmental Corp. $CECO

Key Points

• Needham Investment Management boosted its CECO Environmental stake by 70.6% in the fourth quarter, buying 123,500 additional shares and bringing its holding to 298,500 shares worth about $17.9 million.
• CECO Environmental posted strong quarterly results, reporting EPS of $0.36 versus the $0.12 consensus estimate and revenue of $205.92 million, up 16.5% year over year.
• Analyst sentiment remains bullish, with multiple firms raising price targets and the stock carrying a consensus rating of “Buy” with an average target price of $102.83.

Needham Investment Management LLC increased its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 70.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 298,500 shares of the company's stock after purchasing an additional 123,500 shares during the period. CECO Environmental accounts for 1.1% of Needham Investment Management LLC's portfolio, making the stock its 28th biggest position. Needham Investment Management LLC owned approximately 0.84% of CECO Environmental worth $17,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Divisadero Street Capital Management LP purchased a new position in CECO Environmental during the 3rd quarter valued at about $7,680,000. American Century Companies Inc. grew its holdings in CECO Environmental by 16,844.6% in the third quarter. American Century Companies Inc. now owns 1,257,796 shares of the company's stock worth $64,399,000 after purchasing an additional 1,250,373 shares during the period. Arete Wealth Advisors LLC purchased a new stake in CECO Environmental in the third quarter worth about $1,042,000. Peregrine Asset Advisers Inc. increased its stake in shares of CECO Environmental by 142.1% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company's stock valued at $6,815,000 after purchasing an additional 66,843 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of CECO Environmental by 314.5% during the third quarter. Quantbot Technologies LP now owns 31,088 shares of the company's stock valued at $1,592,000 after purchasing an additional 23,587 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $95.01 on Tuesday. CECO Environmental Corp. has a twelve month low of $27.50 and a twelve month high of $101.24. The firm has a market cap of $3.41 billion, a P/E ratio of 256.78 and a beta of 1.49. The company has a 50 day moving average of $76.52 and a 200 day moving average of $67.49. 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 (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. The business had revenue of $205.92 million for the quarter, compared to the consensus estimate of $198.88 million. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The company's revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. As a group, research analysts expect that CECO Environmental Corp. will post 1.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CECO. Roth Mkm reissued a "buy" rating and issued a $85.00 price target on shares of CECO Environmental in a research report on Wednesday, April 29th. Lake Street Capital boosted their target price on CECO Environmental from $80.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. HC Wainwright increased their target price on CECO Environmental from $55.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Weiss Ratings downgraded CECO Environmental from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Finally, Needham & Company LLC lifted their price target on CECO Environmental from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CECO Environmental has a consensus rating of "Buy" and an average target price of $102.83.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 20,000 shares of CECO Environmental stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $76.85 per share, for a total transaction of $1,537,000.00. Following the acquisition, the director owned 105,500 shares of the company's stock, valued at $8,107,675. This represents a 23.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.90% of the stock is owned by company insiders.

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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