Richard Wallman Purchases 3,000 Shares of CECO Environmental (NASDAQ:CECO) Stock

Key Points

• Director Richard Wallman purchased 3,000 shares of CECO Environmental at an average price of $44.25 per share, increasing his ownership by 1.38%.
• CECO Environmental's stock climbed to $46.48 during trading, with a year-high of $48.58 and a market capitalization of $1.64 billion.
• Analysts have set an average target price of $50.80 for CECO Environmental, with several firms issuing "buy" ratings based on its performance and earnings beat.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) Director Richard Wallman purchased 3,000 shares of the firm's stock in a transaction on Friday, August 29th. The stock was bought at an average price of $44.25 per share, for a total transaction of $132,750.00. Following the purchase, the director owned 219,909 shares in the company, valued at approximately $9,730,973.25. This represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CECO Environmental Price Performance

CECO stock traded up $0.96 during mid-day trading on Wednesday, hitting $46.48. The company had a trading volume of 172,221 shares, compared to its average volume of 315,470. The company has a 50-day moving average price of $38.48 and a 200 day moving average price of $29.24. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 2.65 and a beta of 1.32. CECO Environmental Corp. has a 12-month low of $17.57 and a 12-month high of $48.58.

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

Institutional Trading of CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its holdings in CECO Environmental by 2.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 757,433 shares of the company's stock valued at $21,443,000 after acquiring an additional 15,176 shares in the last quarter. Marex Group plc acquired a new position in shares of CECO Environmental in the 2nd quarter valued at $707,000. G2 Investment Partners Management LLC purchased a new stake in CECO Environmental during the second quarter worth approximately $3,397,000. Engineers Gate Manager LP purchased a new stake in CECO Environmental during the second quarter worth approximately $335,000. Finally, BNP Paribas Financial Markets grew its stake in CECO Environmental by 956.2% during the second quarter. BNP Paribas Financial Markets now owns 20,965 shares of the company's stock worth $594,000 after buying an additional 18,980 shares during the period. Institutional investors and hedge funds own 68.08% of the company's stock.

Analysts Set New Price Targets

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

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.