Peregrine Asset Advisers Inc. Raises Stake in CECO Environmental Corp. $CECO

Key Points

• Peregrine Asset Advisers increased its stake in CECO by 142.1% to 113,870 shares (worth about $6.8M), making CECO its 15th-largest holding and contributing to institutional ownership of roughly 68% of the company.
• CECO beat estimates with quarterly EPS of $0.36 vs. $0.12 and revenue of $205.9M (up 16.5% year-over-year), prompting multiple analyst upgrades and consensus price targets in the roughly $80–$90 range (average $86.83) with a majority "Buy" stance.
• Risk: an investor investigation into the proposed Thermon acquisition (by Kahn Swick & Foti) introduces potential litigation, deal-execution timing risk, and possible dilution that could weigh on the stock.

Peregrine Asset Advisers Inc. lifted its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 142.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,870 shares of the company's stock after buying an additional 66,843 shares during the quarter. CECO Environmental makes up about 1.9% of Peregrine Asset Advisers Inc.'s investment portfolio, making the stock its 15th largest position. Peregrine Asset Advisers Inc. owned about 0.32% of CECO Environmental worth $6,815,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. increased its position 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 last quarter. Two Sigma Investments LP increased its position in CECO Environmental by 3,620.8% in the third quarter. Two Sigma Investments LP now owns 302,691 shares of the company's stock worth $15,498,000 after purchasing an additional 294,556 shares during the last quarter. UBS Group AG increased its position in CECO Environmental by 449.0% in the fourth quarter. UBS Group AG now owns 267,288 shares of the company's stock worth $15,997,000 after purchasing an additional 218,599 shares during the last quarter. Castleark Management LLC bought a new stake in CECO Environmental in the third quarter worth $7,853,000. Finally, Divisadero Street Capital Management LP bought a new stake in CECO Environmental in the third quarter worth $7,680,000. Hedge funds and other institutional investors own 68.08% of the company's stock.

Trending Headlines about CECO Environmental

Here are the key news stories impacting CECO Environmental this week:

• Positive Sentiment: Earnings call signals breakout growth — coverage of CECO’s recent earnings call highlights management’s stronger growth outlook and execution, reinforcing investor confidence in revenue and margin momentum. CECO Environmental’s Earnings Call Signals Breakout Growth
• Positive Sentiment: Zacks upgrades CECO to a Rank #1 (Strong Buy) — the upgrade signals rising analyst optimism and can attract short-term buying interest and momentum-driven flows. What Makes CECO (CECO) a New Strong Buy Stock
• Positive Sentiment: Northland Securities lifts multiple EPS forecasts — the firm raised FY2026 and FY2027 estimates materially (FY2026 to $1.86, FY2027 to $2.61) and increased several quarterly forecasts, signaling expectations for stronger earnings trajectory and supporting a higher valuation multiple. (Market commentary compiled from Northland updates)
• Positive Sentiment: Composite rating upgrade — a composite rating upgrade noted in coverage can broaden investor interest and improve perception of the stock’s prospects. Ceco Environmental gets a composite rating upgrade
• Neutral Sentiment: Small pullback in one quarterly estimate — Northland trimmed its Q2 2026 estimate slightly (from $0.33 to $0.32), a minor change that doesn’t alter the broader upward revisions but may temper near-term expectations.
• Negative Sentiment: Investor investigation into the Thermon deal — a Kahn Swick & Foti investigation into the proposed acquisition of Thermon Group raises the prospect of litigation or deal-process scrutiny, creating potential execution or timing risk for the acquisition and share dilution/price effects. Thermon Group Investor Alert

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. HC Wainwright boosted their price target on shares of CECO Environmental from $55.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Lake Street Capital reiterated a "buy" rating and set a $80.00 price objective on shares of CECO Environmental in a research report on Wednesday, February 25th. Roth Mkm reiterated a "buy" rating and set a $85.00 price objective on shares of CECO Environmental in a research report on Wednesday. Zacks Research upgraded shares of CECO Environmental from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, Needham & Company LLC boosted their price objective on shares of CECO Environmental from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $86.83.

CECO Environmental Price Performance

NASDAQ:CECO opened at $74.30 on Monday. CECO Environmental Corp. has a 1-year low of $24.66 and a 1-year high of $81.72. The company has a 50-day moving average of $61.70 and a 200 day moving average of $60.51. The firm has a market cap of $2.67 billion, a PE ratio of 200.81 and a beta of 1.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.24. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. The company had revenue of $205.92 million during the quarter, compared to analyst estimates of $198.88 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts anticipate that CECO Environmental Corp. will post 1.74 EPS for the current fiscal year.

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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