Penn Capital Management Company LLC Makes New $21.55 Million Investment in CECO Environmental Corp. $CECO

Key Points

• Penn Capital Management initiated a $21.55 million position in CECO Environmental, buying 237,119 shares, while institutional investors collectively own 68.08% of the company.
• CECO reported quarterly revenue of $284.96 million, up 53.7% year over year, and adjusted earnings of $0.47 per share, exceeding analyst expectations of $0.26.
• Analysts maintain a favorable outlook, with eight Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $104.88; however, company insiders recently sold shares.

Penn Capital Management Company LLC bought a new position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 237,119 shares of the company's stock, valued at approximately $21,554,000. CECO Environmental makes up about 1.4% of Penn Capital Management Company LLC's holdings, making the stock its 21st biggest holding. Penn Capital Management Company LLC owned 0.66% of CECO Environmental as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of CECO Environmental during the second quarter valued at approximately $392,358,000. Jupiter Topco LLC bought a new stake in CECO Environmental during the second quarter worth $86,194,000. Legal & General Group Plc purchased a new position in CECO Environmental in the second quarter worth $40,461,000. T. Rowe Price Investment Management Inc. boosted its position in CECO Environmental by 104.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company's stock worth $43,032,000 after purchasing an additional 366,611 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in CECO Environmental in the 2nd quarter valued at $30,475,000. Hedge funds and other institutional investors own 68.08% of the company's stock.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, CFO Peter K. Johansson sold 30,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the completion of the transaction, the chief financial officer owned 40,746 shares in the company, valued at $3,931,581.54. This trade represents a 42.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jason Dezwirek sold 34,000 shares of the stock in a transaction dated 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 transaction, the director owned 166,000 shares of the company's stock, valued at $16,037,260. This represents a 17.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.40% of the company's stock.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $69.67 on Friday. The company has a market capitalization of $4.08 billion, a P/E ratio of -100.97 and a beta of 1.51. The business has a fifty day simple moving average of $78.21 and a two-hundred day simple moving average of $74.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18. CECO Environmental Corp. has a 1 year low of $42.78 and a 1 year high of $101.24.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The company had revenue of $284.96 million during the quarter, compared to the consensus estimate of $282.21 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm's quarterly revenue was up 53.7% compared to the same quarter last year. On average, analysts expect that CECO Environmental Corp. will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CECO shares. Weiss Ratings upgraded CECO Environmental from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They set an "overweight" rating and a $130.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $110.00 price objective on shares of CECO Environmental in a report on Tuesday, August 11th. TD Cowen assumed coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They issued a "buy" rating and a $85.00 price objective on the stock. Finally, Lake Street Capital boosted their target price on shares of CECO Environmental from $80.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $104.88.

CECO Environmental 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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