Farther Finance Advisors LLC Buys 1,000 Shares of CECO Environmental Corp. $CECO

Farther Finance Advisors LLC raised its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 224.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,445 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Farther Finance Advisors LLC’s holdings in CECO Environmental were worth $41,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CECO. Granahan Investment Management LLC acquired a new stake in shares of CECO Environmental during the 1st quarter worth about $7,237,000. Wellington Management Group LLP grew its stake in CECO Environmental by 74.6% during the first quarter. Wellington Management Group LLP now owns 541,980 shares of the company’s stock worth $12,357,000 after buying an additional 231,613 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of CECO Environmental by 8.9% during the first quarter. King Luther Capital Management Corp now owns 1,126,104 shares of the company’s stock worth $25,675,000 after buying an additional 92,315 shares in the last quarter. Nuveen LLC acquired a new stake in shares of CECO Environmental during the first quarter worth approximately $1,818,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of CECO Environmental in the first quarter valued at approximately $1,695,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Lake Street Capital restated a “buy” rating and set a $56.00 price target on shares of CECO Environmental in a research report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of CECO Environmental in a research note on Saturday, September 27th. HC Wainwright raised their target price on 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 price target on CECO Environmental in a report on Wednesday, July 30th. Finally, Citigroup reissued an “outperform” rating on shares of CECO Environmental in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average target price of $50.80.

CECO Environmental Stock Up 5.6%

Shares of NASDAQ:CECO opened at $53.10 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.34 and a quick ratio of 1.13. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 37.13, a P/E/G ratio of 3.39 and a beta of 1.28. The company has a 50 day moving average of $47.30 and a 200-day moving average of $33.53. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $53.39.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. CECO Environmental had a net margin of 7.99% and a return on equity of 10.00%. The business had revenue of $185.39 million for the quarter, compared to analyst estimates of $178.66 million. CECO Environmental has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Buying and Selling

In other CECO Environmental news, Director Jason Dezwirek sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $42.75, for a total transaction of $2,992,500.00. Following the transaction, the director owned 230,000 shares in the company, valued at approximately $9,832,500. This trade represents a 23.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd R. Gleason sold 101,899 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $49.32, for a total value of $5,025,658.68. Following the completion of the sale, the chief executive officer directly owned 410,835 shares of the company’s stock, valued at approximately $20,262,382.20. This trade represents a 19.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 7,500 shares of company stock valued at $339,915 and have sold 420,000 shares valued at $20,233,754. 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.