Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 74,360 CECO Environmental Corp. (NASDAQ:CECO)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in CECO Environmental Corp., purchasing 74,360 shares valued at approximately $1.7 million, representing about 0.21% of the company's total shares.
• Insider sales include Director Jason Dezwirek selling 70,000 shares for nearly $3 million, resulting in a 23.33% decrease in his ownership, indicating a significant movement among company insiders.
• CECO Environmental's stock price increased to $45.13, with analysts forecasting growth and a consensus price target of $49.20, while the company reported earnings per share of $0.24, beating estimates.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 74,360 shares of the company's stock, valued at approximately $1,695,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.21% of CECO Environmental at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundry Partners LLC lifted its holdings in CECO Environmental by 14.0% in the 1st quarter. Foundry Partners LLC now owns 172,670 shares of the company's stock valued at $3,937,000 after purchasing an additional 21,200 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in CECO Environmental by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 91,350 shares of the company's stock valued at $2,083,000 after purchasing an additional 1,687 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in CECO Environmental by 15.8% in the 1st quarter. Peregrine Capital Management LLC now owns 240,552 shares of the company's stock valued at $5,485,000 after purchasing an additional 32,893 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CECO Environmental by 5.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 442,969 shares of the company's stock valued at $10,100,000 after purchasing an additional 22,981 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of CECO Environmental during the 1st quarter worth $1,003,000. Hedge funds and other institutional investors own 68.08% of the company's stock.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Jason Dezwirek sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.54, for a total value of $1,306,200.00. Following the completion of the sale, the director owned 200,000 shares in the company, valued at approximately $8,708,000. The trade was a 13.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,000 shares of company stock valued at $5,128,900. 18.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup reiterated an "outperform" rating on shares of CECO Environmental in a report on Wednesday, July 30th. HC Wainwright lifted their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Needham & Company LLC lifted their price target on CECO Environmental from $34.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Lake Street Capital reiterated a "buy" rating and set a $56.00 price target on shares of CECO Environmental in a report on Wednesday, July 30th. Finally, Northland Securities set a $51.00 price target on CECO Environmental in a report on Wednesday, July 30th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental has a consensus rating of "Buy" and a consensus price target of $49.20.

CECO Environmental Trading Down 0.2%

NASDAQ CECO traded down $0.11 during trading on Tuesday, hitting $44.73. The stock had a trading volume of 162,156 shares, compared to its average volume of 302,696. The company has a market capitalization of $1.58 billion, a PE ratio of 31.28, a PEG ratio of 2.63 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average price of $30.97 and a 200 day moving average price of $26.65. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $46.06.

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, topping the consensus estimate of $0.20 by $0.04. The firm had revenue of $185.39 million during the quarter, compared to analysts' expectations of $178.66 million. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. As a group, equities research analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

About CECO Environmental

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.