Invesco Ltd. Lowers Stake in CECO Environmental Corp. $CECO

Invesco Ltd. cut its position in CECO Environmental Corp. (NASDAQ:CECO) by 90.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,486 shares of the company’s stock after selling 438,644 shares during the quarter. Invesco Ltd. owned 0.13% of CECO Environmental worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CECO. Mackenzie Financial Corp acquired a new stake in CECO Environmental in the fourth quarter valued at $56,000. Heck Capital Advisors LLC purchased a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $74,000. ProShare Advisors LLC acquired a new position in shares of CECO Environmental during the 4th quarter worth $249,000. XTX Topco Ltd acquired a new stake in shares of CECO Environmental in the 1st quarter worth approximately $217,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of CECO Environmental by 18.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,373 shares of the company’s stock valued at $344,000 after buying an additional 1,779 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $45.52 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.34. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $48.58. The company has a market capitalization of $1.61 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.65 and a beta of 1.32. The stock has a fifty day moving average of $38.48 and a 200-day moving average of $29.24.

CECO Environmental (NASDAQ:CECO) 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 company had revenue of $185.39 million for the quarter, compared to the consensus estimate 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. As a group, equities analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HC Wainwright boosted their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Needham & Company LLC lifted their target price on CECO Environmental from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Citigroup reissued an “outperform” rating on shares of CECO Environmental in a research report on Wednesday, July 30th. Northland Securities set a $51.00 price target on shares of CECO Environmental in a report on Wednesday, July 30th. Finally, Lake Street Capital reiterated a “buy” rating and set a $56.00 target price on shares of CECO Environmental in a research note on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, CECO Environmental has a consensus rating of “Buy” and an average target price of $50.80.

Insider Buying and Selling at CECO Environmental

In related news, Director Claudio A. Mannarino sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total value 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. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jason Dezwirek sold 30,000 shares of the firm’s 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 completion of the sale, the director directly owned 200,000 shares in the company, valued at approximately $8,708,000. This represents a 13.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,000 shares of company stock valued at $5,128,900. 16.90% of the stock is owned by company insiders.

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.