Insider Selling: CECO Environmental (NASDAQ:CECO) CEO Sells 101,899 Shares of Stock

Key Points

• CECO Environmental CEO Todd Gleason sold 101,899 shares of the company stock, representing a 19.87% decrease in ownership, for a total of approximately $5 million.
• The company's stock price as of Monday rose to $50.53, with a market cap of $1.79 billion and a 1-year trading range from $17.57 to $52.46.
• CECO Environmental reported an EPS of $0.24 for the last quarter, exceeding analyst expectations and projecting an average EPS of 0.67 for FY 2025.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) CEO Todd Gleason sold 101,899 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $49.32, for a total transaction of $5,025,658.68. Following the completion of the transaction, the chief executive officer owned 410,835 shares of the company's stock, valued at $20,262,382.20. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CECO Environmental Price Performance

CECO stock traded up $1.64 on Monday, hitting $50.53. 426,157 shares of the company's stock traded hands, compared to its average volume of 555,804. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $52.46. The stock 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. The stock has a fifty day moving average of $43.66 and a 200-day moving average of $31.62. The company has a current ratio of 1.34, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The business had revenue of $185.39 million during the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. On average, analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds have recently made changes to their positions in CECO. Farther Finance Advisors LLC lifted its position in CECO Environmental by 224.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company's stock worth $41,000 after buying an additional 1,000 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in CECO Environmental in the 4th quarter worth approximately $56,000. Heck Capital Advisors LLC purchased a new stake in CECO Environmental in the 4th quarter worth approximately $74,000. Raymond James Financial Inc. purchased a new stake in CECO Environmental in the 2nd quarter worth approximately $102,000. Finally, Canada Pension Plan Investment Board lifted its position in 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 worth $178,000 after buying 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 Analysts Forecast Growth

CECO has been the subject of several recent research reports. Northland Securities set a $51.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Lake Street Capital reissued a "buy" rating and set a $56.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC upped their price target on shares of CECO Environmental from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. HC Wainwright upped their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Citigroup restated an "outperform" rating 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.com, the stock currently has a consensus rating of "Buy" and an average target price of $50.80.

CECO Environmental Company 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.

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