Quantbot Technologies LP purchased a new stake in CECO Environmental Corp. (NASDAQ:CECO – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,076 shares of the company’s stock, valued at approximately $1,096,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in CECO Environmental by 15.6% in the 1st quarter. Royal Bank of Canada now owns 14,661 shares of the company’s stock valued at $335,000 after buying an additional 1,982 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CECO Environmental by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,442 shares of the company’s stock worth $398,000 after acquiring an additional 790 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CECO Environmental by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,137 shares of the company’s stock valued at $2,124,000 after purchasing an additional 5,000 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of CECO Environmental in the first quarter valued at $1,047,000. Finally, Rhumbline Advisers raised its stake in shares of CECO Environmental by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 43,137 shares of the company’s stock valued at $1,221,000 after purchasing an additional 991 shares during the period. 68.08% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CFO Peter K. Johansson sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the sale, the chief financial officer directly owned 40,746 shares of the company’s stock, valued at $3,931,581.54. This trade represents a 42.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard F. Wallman bought 20,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were bought at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the completion of the transaction, the director owned 105,500 shares of the company’s stock, valued at $8,107,675. The trade was a 23.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 16.90% of the stock is owned by company insiders.
CECO Environmental Trading Down 1.4%
CECO Environmental (NASDAQ:CECO – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The business had revenue of $284.96 million during the quarter, compared to analysts’ expectations of $282.21 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue was up 53.7% on a year-over-year basis. On average, equities research analysts anticipate that CECO Environmental Corp. will post 2.35 EPS for the current fiscal year.
Wall Street Analyst Weigh In
CECO has been the topic of a number of recent research reports. Weiss Ratings cut CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. started coverage on CECO Environmental in a report on Thursday, July 9th. They set an “overweight” rating and a $130.00 target price for the company. TD Cowen began coverage on CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price target on the stock. Zacks Research downgraded shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 price objective on shares of CECO Environmental in a research report on Tuesday, August 11th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.88.
View Our Latest Report on CECO
CECO Environmental Profile
CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.
CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.
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