Susquehanna Fundamental Investments LLC purchased a new stake in CECO Environmental Corp. (NASDAQ:CECO – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 26,759 shares of the company’s stock, valued at approximately $2,428,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in CECO Environmental during the 2nd quarter worth $392,358,000. Jupiter Topco LLC acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at about $86,194,000. Legal & General Group Plc acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at about $40,461,000. T. Rowe Price Investment Management Inc. lifted its position in shares of CECO Environmental by 104.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock worth $43,032,000 after purchasing an additional 366,611 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of CECO Environmental during the second quarter worth about $30,475,000. 68.08% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director Jason Dezwirek sold 34,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the sale, the director directly owned 166,000 shares in the company, valued at approximately $16,037,260. This represents a 17.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter K. Johansson sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total value of $2,894,700.00. Following the completion of the sale, the chief financial officer directly owned 40,746 shares in the company, valued at approximately $3,931,581.54. This trade represents a 42.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 16.90% of the company’s stock.
CECO Environmental Trading Down 0.9%
CECO Environmental (NASDAQ:CECO – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. The firm had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. CECO Environmental’s quarterly revenue was up 53.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, equities analysts forecast that CECO Environmental Corp. will post 2.35 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently commented on CECO shares. Weiss Ratings upgraded CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Zacks Research downgraded CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 target price on shares of CECO Environmental in a research report on Tuesday, August 11th. Lake Street Capital lifted their target price on CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, TD Cowen initiated coverage on CECO Environmental in a report on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price target for the company. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, CECO Environmental presently has an average rating of “Moderate Buy” and an average target price of $104.88.
Get Our Latest Research Report on CECO
About CECO Environmental
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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