Claudio A. Mannarino Sells 20,000 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

Key Points

• CECO Environmental Corp. Director Claudio A. Mannarino sold 20,000 shares at an average price of $41.51, totaling $830,200, which represents a 20.49% decrease in their holdings.
• The company reported an EPS of $0.24 for the last quarter, exceeding analysts' expectations of $0.20, along with a revenue of $185.39 million.
• Analysts have raised their price targets for CECO Environmental, with a consensus target price of $49.20 and multiple firms giving it a "buy" rating.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Claudio A. Mannarino sold 20,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total value of $830,200.00. Following the sale, the director owned 77,589 shares in the company, valued at $3,220,719.39. This 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 through the SEC website.

CECO Environmental Stock Performance

NASDAQ:CECO traded down $0.56 during midday trading on Tuesday, reaching $44.28. 98,975 shares of the company traded hands, compared to its average volume of 302,281. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $46.06. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 2.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.13. The company has a fifty day moving average price of $30.97 and a 200 day moving average price of $26.65.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $178.66 million. On average, analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC raised its stake in shares of CECO Environmental by 63.0% in the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock worth $52,623,000 after buying an additional 673,050 shares in the last quarter. Voya Investment Management LLC raised its position in shares of CECO Environmental by 6,409.3% during the fourth quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock worth $19,524,000 after purchasing an additional 635,931 shares during the period. Granahan Investment Management LLC acquired a new stake in shares of CECO Environmental during the first quarter worth $7,237,000. Raymond James Financial Inc. acquired a new stake in shares of CECO Environmental during the fourth quarter worth $7,334,000. Finally, Wellington Management Group LLP raised its position in shares of CECO Environmental by 74.6% during the first quarter. Wellington Management Group LLP now owns 541,980 shares of the company's stock worth $12,357,000 after purchasing an additional 231,613 shares during the period. Institutional investors and hedge funds own 68.08% of the company's stock.

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.