Janney Montgomery Scott LLC Decreases Stock Holdings in CECO Environmental Corp. $CECO

Janney Montgomery Scott LLC reduced its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,600 shares of the company’s stock after selling 2,200 shares during the period. Janney Montgomery Scott LLC owned about 0.14% of CECO Environmental worth $1,404,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CECO. Granahan Investment Management LLC purchased a new stake in shares of CECO Environmental during the 1st quarter worth $7,237,000. Wellington Management Group LLP lifted its position in shares of CECO Environmental by 74.6% during the 1st 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 last quarter. King Luther Capital Management Corp lifted its position in shares of CECO Environmental by 8.9% during the 1st quarter. King Luther Capital Management Corp now owns 1,126,104 shares of the company’s stock worth $25,675,000 after purchasing an additional 92,315 shares during the last quarter. Nuveen LLC acquired a new stake in CECO Environmental during the 1st quarter worth $1,818,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CECO Environmental during the 1st quarter worth $1,695,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CECO. Needham & Company LLC lifted their price target 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 note on Wednesday, July 30th. Citigroup reiterated an “outperform” rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Zacks Research lowered shares of CECO Environmental from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CECO Environmental in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.80.

CECO Environmental Trading Down 0.4%

NASDAQ CECO opened at $49.81 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. The firm has a market cap of $1.76 billion, a PE ratio of 34.83, a P/E/G ratio of 3.35 and a beta of 1.28. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $53.88. The firm’s fifty day moving average is $47.88 and its two-hundred day moving average is $34.26.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $185.39 million for the quarter, compared to analyst estimates 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. Analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Activity

In other news, Director Jason Dezwirek sold 30,000 shares of CECO Environmental stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $43.54, for a total value of $1,306,200.00. Following the sale, the director owned 200,000 shares of the company’s stock, valued at $8,708,000. The trade was a 13.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claudio A. Mannarino sold 20,000 shares of CECO Environmental stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total transaction of $830,200.00. Following the completion of the sale, the director directly owned 77,589 shares in the company, valued at approximately $3,220,719.39. The trade was a 20.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 7,500 shares of company stock worth $339,915 and sold 420,000 shares worth $20,233,754. Corporate insiders own 16.90% of the company’s stock.

CECO Environmental 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.