Vanguard Group Inc. Trims Stock Position in CECO Environmental Corp. $CECO

Key Points

• Vanguard Group Inc. has sold 12,793 shares of CECO Environmental Corp., reducing its ownership to 1,635,881 shares, which represents 4.64% of the company.
• Insiders, including director Jason Dezwirek, have sold a total of 120,000 shares valued at approximately $5.13 million in the last three months, marking significant insider activity.
• CECO Environmental's stock has received a "buy" rating from multiple analysts, with recent price targets set between $51.00 and $56.00, suggesting optimism about the company's future performance.

Vanguard Group Inc. lowered its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,635,881 shares of the company's stock after selling 12,793 shares during the quarter. Vanguard Group Inc. owned about 4.64% of CECO Environmental worth $37,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new position in CECO Environmental in the 4th quarter worth approximately $56,000. Heck Capital Advisors LLC acquired a new position in CECO Environmental in the 4th quarter worth approximately $74,000. XTX Topco Ltd acquired a new position in CECO Environmental in the 1st quarter worth approximately $217,000. ProShare Advisors LLC acquired a new position in CECO Environmental in the 4th quarter worth approximately $249,000. Finally, Two Sigma Securities LLC acquired a new position in CECO Environmental in the 4th quarter worth approximately $262,000. Institutional investors and hedge funds own 68.08% of the company's stock.

Insiders Place Their Bets

In other news, Director Jason Dezwirek sold 30,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.54, for a total transaction of $1,306,200.00. Following the completion of the sale, the director owned 200,000 shares of the company's stock, valued at $8,708,000. This represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the sale, the director directly owned 77,589 shares of the company's stock, valued at $3,220,719.39. The trade was a 20.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock valued at $5,128,900 in the last ninety days. Insiders own 18.40% of the company's stock.

CECO Environmental Price Performance

CECO Environmental stock traded down $1.10 during trading on Friday, reaching $45.59. The company had a trading volume of 709,233 shares, compared to its average volume of 418,201. The firm's 50-day simple moving average is $37.82 and its 200 day simple moving average is $28.96. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $48.58. The firm has a market capitalization of $1.61 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.65 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 (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $185.39 million for the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CECO. HC Wainwright upped their price objective on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Needham & Company LLC upped their price objective on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Lake Street Capital restated a "buy" rating and issued a $56.00 price objective 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 research report on Wednesday, July 30th. Finally, Citigroup restated an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $50.80.

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.