Nuveen LLC Acquires New Shares in CECO Environmental Corp. $CECO

Key Points

• Nuveen LLC has acquired a new position in CECO Environmental Corp., purchasing 79,754 shares valued at approximately $1.8 million, representing 0.23% of the company's stock.
• Several hedge funds, including Price T Rowe Associates and Bank of America Corp DE, have increased their stakes in CECO, indicating growing institutional interest.
• CECO Environmental received a consensus rating of "Buy" from analysts, with price targets ranging from $51 to $56 after positive quarterly earnings results.

Nuveen LLC bought a new position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,754 shares of the company's stock, valued at approximately $1,818,000. Nuveen LLC owned 0.23% of CECO Environmental at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CECO. Mackenzie Financial Corp acquired a new stake in CECO Environmental during the fourth quarter worth approximately $56,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the fourth quarter worth approximately $74,000. XTX Topco Ltd acquired a new stake in CECO Environmental during the first quarter worth approximately $217,000. ProShare Advisors LLC acquired a new stake in CECO Environmental in the fourth quarter valued at approximately $249,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CECO Environmental by 7.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,652 shares of the company's stock valued at $266,000 after acquiring an additional 794 shares during the period. Institutional investors and hedge funds own 68.08% of the company's stock.

Insiders Place Their Bets

In other CECO Environmental news, Director Claudio A. Mannarino sold 20,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total value of $830,200.00. Following the transaction, the director owned 77,589 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Richard F. Wallman purchased 3,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were purchased at an average cost of $44.25 per share, for a total transaction of $132,750.00. Following the transaction, the director directly owned 219,909 shares in the company, valued at approximately $9,730,973.25. The trade was a 1.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 120,000 shares of company stock valued at $5,128,900. Insiders own 18.40% of the company's stock.

CECO Environmental Stock Performance

CECO stock traded up $2.34 during midday trading on Thursday, hitting $48.77. The company's stock had a trading volume of 500,938 shares, compared to its average volume of 398,512. The stock's 50-day moving average price is $39.20 and its 200 day moving average price is $29.53. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 1 year low of $17.57 and a 1 year high of $49.44. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.70 and a beta of 1.32.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%.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, equities analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

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

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.