Swiss National Bank Sells 700 Shares of CECO Environmental Corp. $CECO

Swiss National Bank cut its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,600 shares of the company’s stock after selling 700 shares during the period. Swiss National Bank owned approximately 0.16% of CECO Environmental worth $1,313,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CECO. Expect Equity LLC bought a new stake in CECO Environmental during the fourth quarter valued at about $3,267,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CECO Environmental during the first quarter valued at about $1,695,000. Harbor Capital Advisors Inc. bought a new stake in CECO Environmental during the first quarter valued at about $1,519,000. Bank of America Corp DE boosted its holdings in CECO Environmental by 118.8% during the fourth quarter. Bank of America Corp DE now owns 100,484 shares of the company’s stock valued at $3,038,000 after acquiring an additional 54,551 shares during the period. Finally, North Star Investment Management Corp. bought a new stake in CECO Environmental during the first quarter valued at about $1,003,000. 68.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CECO has been the subject of a number of research analyst reports. Lake Street Capital reaffirmed a “buy” rating and set a $56.00 price objective on shares of CECO Environmental in a research report on Wednesday, July 30th. HC Wainwright increased their target price on shares of CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Northland Securities set a $51.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Needham & Company LLC increased their target price on shares of CECO Environmental from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Citigroup reiterated an “outperform” rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $50.80.

CECO Environmental Stock Down 0.9%

Shares of CECO opened at $47.53 on Tuesday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 33.24, a P/E/G ratio of 2.79 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 12 month low of $17.57 and a 12 month high of $48.31. The company has a 50-day moving average price of $36.42 and a two-hundred day moving average price of $28.40.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $185.39 million during 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. Equities analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Insider Transactions at CECO Environmental

In other news, Director Jason Dezwirek sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the completion of the sale, the director owned 230,000 shares of the company’s stock, valued at approximately $9,832,500. This trade represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Claudio A. Mannarino sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $41.51, for a total transaction of $830,200.00. Following the sale, the director directly owned 77,589 shares of the company’s stock, 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 90 days, insiders have sold 120,000 shares of company stock valued at $5,128,900. Corporate insiders own 16.90% of the company’s stock.

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.