Walleye Capital LLC Makes New Investment in CECO Environmental Corp. $CECO

Key Points

• Walleye Capital opened a new position in CECO Environmental in Q1, buying 38,449 shares valued at about $2.29 million, according to its latest 13F filing.
• Wall Street sentiment remains bullish on the stock, with multiple firms maintaining or raising ratings and a consensus Buy rating. The average price target stands at $106.71, above the recent trading price.
• CECO reported strong quarterly results, including EPS of $0.36 versus $0.12 expected and revenue of $205.92 million, up 16.5% year over year. The article also notes mixed insider activity, with one director selling shares and another buying shares.

Walleye Capital LLC bought a new stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 38,449 shares of the company's stock, valued at approximately $2,291,000. Walleye Capital LLC owned 0.11% of CECO Environmental as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Peregrine Asset Advisers Inc. raised its position in CECO Environmental by 142.1% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company's stock valued at $6,815,000 after purchasing an additional 66,843 shares during the last quarter. Navellier & Associates Inc. grew its position in shares of CECO Environmental by 48.5% in the 4th quarter. Navellier & Associates Inc. now owns 42,455 shares of the company's stock worth $2,541,000 after buying an additional 13,860 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of CECO Environmental by 638.3% during the fourth quarter. SG Americas Securities LLC now owns 80,736 shares of the company's stock valued at $4,832,000 after buying an additional 69,800 shares during the period. Moran Wealth Management LLC bought a new position in shares of CECO Environmental during the fourth quarter valued at approximately $691,000. Finally, Capital World Investors purchased a new stake in CECO Environmental in the fourth quarter worth $19,936,000. 68.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They set an "overweight" rating and a $130.00 price objective on the stock. Zacks Research upgraded shares of CECO Environmental from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Northland Securities set a $118.00 price objective on shares of CECO Environmental in a report on Friday, June 12th. Roth Capital reiterated a "buy" rating and set a $85.00 target price on shares of CECO Environmental in a report on Wednesday, April 29th. Finally, Lake Street Capital raised their target price on CECO Environmental from $80.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, CECO Environmental currently has an average rating of "Buy" and a consensus price target of $106.71.

CECO Environmental Trading Down 2.7%

NASDAQ:CECO opened at $79.59 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 215.11 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18. CECO Environmental Corp. has a one year low of $33.04 and a one year high of $101.24. The company's 50-day simple moving average is $85.60 and its 200 day simple moving average is $73.16.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.24. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. The business had revenue of $205.92 million during the quarter, compared to the consensus estimate of $198.88 million. During the same quarter last year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 16.5% on a year-over-year basis. As a group, analysts forecast that CECO Environmental Corp. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jason Dezwirek sold 34,000 shares of the firm's 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 transaction, the director owned 166,000 shares of the company's stock, valued at $16,037,260. This trade represents a 17.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman acquired 20,000 shares of the stock in a transaction on Monday, June 1st. The shares were bought at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the purchase, the director directly owned 105,500 shares of the company's stock, valued at $8,107,675. The trade was a 23.39% increase in their position. The disclosure for this purchase is available in the SEC filing. 18.40% of the stock is currently owned by company insiders.

CECO Environmental 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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