Russell Investments Group Ltd. Sells 12,383 Shares of CECO Environmental Corp. $CECO

Key Points

• Russell Investments Group Ltd. has reduced its holdings in CECO Environmental Corp. by 8.1%, selling 12,383 shares and now owning approximately 0.40% of the company valued at around $3.18 million.
• Several other large investors have increased their stakes in CECO Environmental, with Voya Investment Management LLC leading with a staggering 6,409.3% increase, acquiring over 635,000 shares.
• CECO Environmental has received multiple buy ratings from analysts, with a consensus rating of "Buy" and an average target price of $50.80.

Russell Investments Group Ltd. lowered its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,621 shares of the company's stock after selling 12,383 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.40% of CECO Environmental worth $3,183,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in CECO Environmental by 15.3% in the fourth quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company's stock valued at $511,000 after acquiring an additional 2,236 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of CECO Environmental by 18.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,373 shares of the company's stock worth $344,000 after purchasing an additional 1,779 shares during the period. Voya Investment Management LLC raised its holdings in shares of CECO Environmental by 6,409.3% in the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock worth $19,524,000 after purchasing an additional 635,931 shares during the period. Two Sigma Securities LLC purchased a new position in CECO Environmental in the fourth quarter valued at approximately $262,000. Finally, Northern Trust Corp grew its holdings in CECO Environmental by 1.0% during the fourth quarter. Northern Trust Corp now owns 275,310 shares of the company's stock valued at $8,323,000 after purchasing an additional 2,638 shares during the period. Hedge funds and other institutional investors own 68.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CECO shares. Citigroup reissued an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Northland Securities set a $51.00 price objective on CECO Environmental in a report on Wednesday, July 30th. HC Wainwright boosted 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. Needham & Company LLC upped their price objective on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a report on Thursday. Finally, Lake Street Capital reiterated a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a research report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, CECO Environmental currently has a consensus rating of "Buy" and an average target price of $50.80.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $47.98 on Friday. The business's fifty day moving average is $36.05 and its 200 day moving average is $28.27. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $48.31.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. Research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Activity at CECO Environmental

In other news, Director Claudio A. Mannarino sold 20,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were 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. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jason Dezwirek sold 70,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was 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 in the company, valued at $9,832,500. This trade represents a 23.33% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,000 shares of company stock valued at $5,128,900. 18.40% of the stock is owned by corporate insiders.

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.

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