CECO Environmental Corp. $CECO Shares Acquired by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in CECO Environmental Corp. by 3.4%, now holding 668,072 shares valued at approximately $15.2 million.
• CECO Environmental reported quarterly earnings of $0.24 per share, exceeding expectations of $0.20, with revenues of $185.39 million, surpassing the forecast of $178.66 million.
• Wall Street analysts have raised their price targets for CECO Environmental, with ratings indicating a strong potential for growth, maintaining an average price target of $50.80.

Voya Investment Management LLC increased its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 668,072 shares of the company's stock after acquiring an additional 22,219 shares during the period. Voya Investment Management LLC owned about 1.89% of CECO Environmental worth $15,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CECO. Mackenzie Financial Corp acquired a new stake in shares of CECO Environmental during the 4th quarter worth approximately $56,000. Heck Capital Advisors LLC acquired a new stake in shares of CECO Environmental during the 4th quarter worth approximately $74,000. Caption Management LLC bought a new position in CECO Environmental in the 1st quarter valued at approximately $182,000. XTX Topco Ltd bought a new position in CECO Environmental in the 1st quarter valued at approximately $217,000. Finally, Alpine Global Management LLC bought a new position in CECO Environmental in the 1st quarter valued at approximately $247,000. Institutional investors and hedge funds own 68.08% of the company's stock.

Insider Transactions at CECO Environmental

In other news, Director Jason Dezwirek sold 70,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman bought 3,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was acquired at an average cost of $44.25 per share, with a total value of $132,750.00. Following the completion of the acquisition, the director owned 219,909 shares of the company's stock, valued at $9,730,973.25. This represents a 1.38% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 7,500 shares of company stock worth $339,915 and have sold 120,000 shares worth $5,128,900. Company insiders own 18.40% of the company's stock.

Analyst Ratings Changes

CECO has been the subject of several research reports. HC Wainwright increased their price objective on shares of 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 increased their price objective on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Lake Street Capital reissued a "buy" rating and issued a $56.00 price objective on shares of CECO Environmental in a research note on Wednesday, July 30th. Northland Securities set a $51.00 price objective on shares of CECO Environmental in a research note on Wednesday, July 30th. Finally, Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, CECO Environmental presently has a consensus rating of "Buy" and a consensus target price of $50.80.

CECO Environmental Stock Down 4.4%

Shares of CECO Environmental stock traded down $2.26 during trading on Friday, hitting $48.89. The company's stock had a trading volume of 1,728,660 shares, compared to its average volume of 483,216. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. The company has a fifty day simple moving average of $43.26 and a two-hundred day simple moving average of $31.34. The company has a market capitalization of $1.73 billion, a PE ratio of 34.19, a P/E/G ratio of 2.98 and a beta of 1.32. CECO Environmental Corp. has a 52 week low of $17.57 and a 52 week high of $52.46.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $185.39 million for the quarter, compared to the consensus estimate of $178.66 million. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. CECO Environmental has set its FY 2025 guidance at EPS. Equities research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

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.