Public Employees Retirement System of Ohio Invests $7.41 Million in CECO Environmental Corp. $CECO

Key Points

• Public Employees Retirement System of Ohio acquired 81,665 CECO Environmental shares worth approximately $7.41 million, representing a 0.23% stake. Institutional investors collectively own 68.08% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $104.88.
• CECO reported quarterly earnings of $0.47 per share, beating estimates of $0.26, while revenue rose 53.7% year over year to $284.96 million. However, company insiders recently sold shares, and the stock opened at $70.55, down 0.9%.

Public Employees Retirement System of Ohio acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 81,665 shares of the company's stock, valued at approximately $7,410,000. Public Employees Retirement System of Ohio owned 0.23% of CECO Environmental at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of CECO Environmental in the second quarter worth $392,358,000. Jupiter Topco LLC purchased a new position in CECO Environmental in the second quarter valued at about $86,194,000. Legal & General Group Plc acquired a new position in CECO Environmental in the 2nd quarter worth about $40,461,000. T. Rowe Price Investment Management Inc. raised its stake in shares of CECO Environmental by 104.0% during the 4th 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 in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of CECO Environmental during the 2nd quarter valued at about $30,475,000. Institutional investors own 68.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CECO. Northland Securities set a $125.00 price target on CECO Environmental in a research note on Thursday, August 13th. TD Cowen began coverage on shares of CECO Environmental in a research note on Wednesday, August 5th. They set a "buy" rating and a $85.00 price target on the stock. Zacks Research downgraded shares of CECO Environmental from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a research note on Thursday, July 9th. They issued an "overweight" rating and a $130.00 price objective for the company. Finally, Lake Street Capital upped their price objective on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, CECO Environmental presently has an average rating of "Moderate Buy" and an average price target of $104.88.

Insider Activity

In related news, Director Jason Dezwirek sold 34,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director owned 166,000 shares in the company, valued at $16,037,260. This represents a 17.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter K. Johansson sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the completion of the sale, the chief financial officer directly owned 40,746 shares in the company, valued at $3,931,581.54. This trade represents a 42.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is currently owned by insiders.

CECO Environmental Stock Down 0.9%

Shares of CECO Environmental stock opened at $70.55 on Wednesday. CECO Environmental Corp. has a 12-month low of $42.82 and a 12-month high of $101.24. The stock has a market capitalization of $4.13 billion, a P/E ratio of -102.25 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $77.12 and a two-hundred day moving average price of $74.02.

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