William Blair Investment Management LLC Has $26.78 Million Stake in CECO Environmental Corp. $CECO

Key Points

• William Blair Investment Management LLC has increased its stake in CECO Environmental Corp. by 4.9% during the second quarter, holding $26.78 million worth of shares.
• CECO Environmental has received several analyst upgrades, with a consensus rating of "Moderate Buy" and an average target price of $50.80.
• In recent insider transactions, Director Claudio A. Mannarino sold 20,000 shares while Director Richard F. Wallman bought 3,000 shares, indicating mixed signals among company leadership.

William Blair Investment Management LLC lifted its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 945,897 shares of the company's stock after purchasing an additional 44,310 shares during the quarter. William Blair Investment Management LLC owned 2.68% of CECO Environmental worth $26,778,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CECO. Farther Finance Advisors LLC raised its stake in shares of CECO Environmental by 224.7% in the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock valued at $41,000 after purchasing an additional 1,000 shares in the last quarter. Caption Management LLC acquired a new position in CECO Environmental during the first quarter worth $182,000. XTX Topco Ltd acquired a new position in CECO Environmental during the first quarter worth $217,000. Alpine Global Management LLC acquired a new position in CECO Environmental during the first quarter worth $247,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CECO Environmental by 7.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,652 shares of the company's stock worth $266,000 after acquiring an additional 794 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CECO has been the subject of several recent analyst reports. Lake Street Capital reiterated a "buy" rating and set a $56.00 price objective on shares of CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC increased their price objective on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Citigroup reiterated an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. HC Wainwright increased their price objective on CECO Environmental from $33.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of CECO Environmental in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.80.

Insider Transactions at CECO Environmental

In related news, Director Claudio A. Mannarino sold 20,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was 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 in the company, valued at $3,220,719.39. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard F. Wallman purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was purchased at an average price of $44.25 per share, for a total transaction of $132,750.00. Following the acquisition, the director owned 219,909 shares of the company's stock, valued at $9,730,973.25. The trade was a 1.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 7,500 shares of company stock worth $339,915 and have sold 420,000 shares worth $20,233,754. Insiders own 16.90% of the company's stock.

CECO Environmental Stock Performance

Shares of NASDAQ:CECO opened at $48.88 on Monday. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $53.88. The firm has a market cap of $1.73 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 3.29 and a beta of 1.28. 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 business has a fifty day moving average of $48.37 and a 200-day moving average of $35.23.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced 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. The company had revenue of $185.39 million during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. CECO Environmental has set its FY 2025 guidance at EPS. On average, equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal 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.

Want to see what other hedge funds are holding CECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CECO Environmental Corp. (NASDAQ:CECO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.