NorthCrest Asset Manangement LLC Reduces Position in CECO Environmental Corp. $CECO

Key Points

• NorthCrest Asset Management LLC reduced its stake in CECO Environmental Corp. by 31.2% during Q2, selling 10,466 shares and now holding 23,130 shares valued at approximately $694,000.
• CECO Environmental reported a $0.24 EPS for the last quarter, exceeding analysts' expectations, with revenues of $185.39 million, surpassing estimates as well.
• Institutional investors currently own 68.08% of CECO's stock, with several hedge funds making new acquisitions over recent quarters, highlighting strong institutional interest.

NorthCrest Asset Manangement LLC decreased its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 31.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 23,130 shares of the company's stock after selling 10,466 shares during the period. NorthCrest Asset Manangement LLC owned 0.07% of CECO Environmental worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CECO. Bank of America Corp DE increased its position in CECO Environmental by 118.8% during the 4th quarter. Bank of America Corp DE now owns 100,484 shares of the company's stock valued at $3,038,000 after purchasing an additional 54,551 shares during the period. Deutsche Bank AG grew its position in shares of CECO Environmental by 52.2% in the 4th quarter. Deutsche Bank AG now owns 25,994 shares of the company's stock worth $786,000 after buying an additional 8,910 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CECO Environmental by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,652 shares of the company's stock worth $503,000 after buying an additional 591 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of CECO Environmental in the 4th quarter worth approximately $249,000. Finally, Squarepoint Ops LLC purchased a new position in shares of CECO Environmental in the 4th quarter worth approximately $949,000. Hedge funds and other institutional investors own 68.08% of the company's stock.

Analysts Set New Price Targets

CECO has been the topic of a number of analyst reports. HC Wainwright lifted their price objective on shares of CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Northland Securities set a $51.00 price objective on shares of CECO Environmental in a research report on Wednesday, July 30th. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Lake Street Capital reaffirmed a "buy" rating and issued a $56.00 price objective on shares of CECO Environmental in a research report on Wednesday, July 30th. Finally, Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CECO Environmental has a consensus rating of "Buy" and an average price target of $50.80.

CECO Environmental Stock Performance

Shares of CECO Environmental stock traded up $0.24 during trading on Tuesday, hitting $50.77. 237,348 shares of the company's stock were exchanged, compared to its average volume of 338,586. 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 business has a 50-day simple moving average of $43.66 and a 200-day simple moving average of $31.62. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $52.46. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 2.85 and a beta of 1.32.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, topping 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 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. On average, research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Activity

In related news, Director Jason Dezwirek sold 70,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total value of $2,992,500.00. Following the completion of the sale, the director owned 230,000 shares of the company's stock, valued at approximately $9,832,500. The trade was a 23.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard F. Wallman purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was bought at an average cost of $44.25 per share, with a total value of $132,750.00. Following the acquisition, the director owned 219,909 shares in the company, valued at $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 90 days, insiders have bought 7,500 shares of company stock valued at $339,915 and have sold 420,000 shares valued at $20,233,754. Company insiders own 16.90% of the company's stock.

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.