Todd Gleason Sells 100,000 Shares of CECO Environmental (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) CEO Todd Gleason sold 100,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $51.30, for a total value of $5,130,000.00. Following the completion of the transaction, the chief executive officer owned 410,835 shares of the company’s stock, valued at $21,075,835.50. The trade was a 19.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CECO Environmental Trading Up 1.0%

NASDAQ:CECO opened at $51.03 on Wednesday. The stock has a fifty day moving average price of $44.08 and a two-hundred day moving average price of $31.75. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.94 and a beta of 1.32. 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 1 year low of $17.57 and a 1 year high of $52.46.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.00% and a net margin of 7.99%. CECO Environmental has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CECO shares. Needham & Company LLC upped 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. Northland Securities set a $51.00 target price on CECO Environmental in a report on Wednesday, July 30th. Lake Street Capital reissued a “buy” rating and issued a $56.00 target price on shares of CECO Environmental in a report on Wednesday, July 30th. HC Wainwright upped their target price on CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating 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. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $50.80.

Hedge Funds Weigh In On CECO Environmental

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of CECO Environmental by 224.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the period. Mackenzie Financial Corp purchased a new position in shares of CECO Environmental in the 4th quarter worth about $56,000. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental in the 4th quarter worth about $74,000. Raymond James Financial Inc. purchased a new position in shares of CECO Environmental in the 2nd quarter worth about $102,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of CECO Environmental by 6,200.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,300 shares of the company’s stock worth $178,000 after purchasing an additional 6,200 shares during the period. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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.