Insider Selling: CECO Environmental (NASDAQ:CECO) CEO Sells 100,000 Shares of Stock

Key Points

• CECO Environmental CEO Todd Gleason sold 100,000 shares of stock on September 18 for $5.13 million, reducing his ownership by 19.58% to approximately 410,835 shares.
• The company's stock recently increased by 3.4%, trading at $50.53, with a market capitalization of $1.79 billion.
• CECO Environmental reported better-than-expected quarterly earnings, with an EPS of $0.24, exceeding the consensus estimate of $0.20.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) CEO Todd Gleason sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $51.30, for a total value of $5,130,000.00. Following the completion of the sale, the chief executive officer owned 410,835 shares in the company, valued at approximately $21,075,835.50. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

CECO Environmental Trading Up 3.4%

CECO traded up $1.64 during trading on Monday, hitting $50.53. 426,157 shares of the stock were exchanged, compared to its average volume of 555,804. The firm has a 50 day simple moving average of $43.66 and a 200 day simple moving average of $31.62. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.85 and a beta of 1.32. CECO Environmental Corp. has a 1 year low of $17.57 and a 1 year high of $52.46. 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 released its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, topping 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 return on equity of 10.00% and a net margin of 7.99%. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current year.

Hedge Funds Weigh In On CECO Environmental

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in shares of CECO Environmental by 224.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock valued at $41,000 after buying an additional 1,000 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of CECO Environmental in the 4th quarter valued at about $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental in the 4th quarter valued at about $74,000. Raymond James Financial Inc. purchased a new position in shares of CECO Environmental in the 2nd quarter valued at about $102,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of CECO Environmental by 6,200.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,300 shares of the company's stock valued at $178,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CECO. Northland Securities set a $51.00 target price on CECO Environmental in a research report on Wednesday, July 30th. Citigroup reaffirmed an "outperform" rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Lake Street Capital reaffirmed a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a research report on Wednesday, July 30th. Needham & Company LLC increased their target price on CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Finally, HC Wainwright increased their target price on CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CECO Environmental has an average rating of "Buy" and a consensus target price 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.

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