Insider Selling: CECO Environmental (NASDAQ:CECO) CEO Sells 98,101 Shares of Stock

Key Points

• CECO Environmental's CEO Todd Gleason sold 98,101 shares at an average price of $50.45, totaling approximately $4.95 million, reducing his ownership by 19.28%.
• Following the insider sale, CECO's stock rose to $50.53, with analysts setting price targets between $51.00 and $56.00, maintaining an average "Buy" rating.
• CECO reported earnings of $0.24 per share for the last quarter, exceeding analysts' expectations, with revenues of $185.39 million against a consensus of $178.66 million.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) CEO Todd Gleason sold 98,101 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $50.45, for a total value of $4,949,195.45. Following the transaction, the chief executive officer owned 410,835 shares of the company's stock, valued at approximately $20,726,625.75. This trade represents a 19.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CECO Environmental Price Performance

Shares of NASDAQ:CECO traded up $1.64 during trading on Monday, hitting $50.53. 426,157 shares of the company's stock were exchanged, compared to its average volume of 555,804. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $52.46. The business's 50-day simple moving average is $43.66 and its 200 day simple moving average is $31.62. 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 market cap of $1.79 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.85 and a beta of 1.32.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The firm had revenue of $185.39 million for the quarter, compared to the consensus estimate of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. As a group, equities analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on CECO shares. Northland Securities set a $51.00 price objective on CECO Environmental in a report on Wednesday, July 30th. Citigroup reiterated an "outperform" rating on shares of CECO Environmental in a research note on Wednesday, July 30th. HC Wainwright upped their price objective on shares of CECO Environmental from $33.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Needham & Company LLC upped their price objective on CECO Environmental from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Finally, Lake Street Capital reiterated a "buy" rating and issued a $56.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $50.80.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently made changes to their positions in CECO. Farther Finance Advisors LLC increased its stake in CECO Environmental by 224.7% in 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 period. Mackenzie Financial Corp purchased a new position in CECO Environmental during the 4th quarter valued at about $56,000. Heck Capital Advisors LLC acquired a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $74,000. Raymond James Financial Inc. purchased a new position in shares of CECO Environmental during the 2nd quarter worth approximately $102,000. Finally, Canada Pension Plan Investment Board lifted its stake 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 valued at $178,000 after buying an additional 6,200 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

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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