Janney Montgomery Scott LLC Decreases Stock Holdings in CECO Environmental Corp. $CECO

Janney Montgomery Scott LLC lowered its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 49,600 shares of the company’s stock after selling 2,200 shares during the period. Janney Montgomery Scott LLC’s holdings in CECO Environmental were worth $1,404,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in CECO Environmental by 224.7% during the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company’s stock worth $41,000 after buying an additional 1,000 shares in the last quarter. Caption Management LLC purchased a new stake in CECO Environmental during the first quarter worth about $182,000. XTX Topco Ltd purchased a new stake in CECO Environmental during the first quarter worth about $217,000. Alpine Global Management LLC purchased a new stake in CECO Environmental during the first quarter worth about $247,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CECO Environmental by 7.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,652 shares of the company’s stock worth $266,000 after buying an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insider Activity

In other news, Director Claudio A. Mannarino sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 77,589 shares of the company’s stock, valued at $3,220,719.39. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason Dezwirek sold 70,000 shares of the business’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 transaction, the director directly owned 230,000 shares of the company’s stock, valued at approximately $9,832,500. This represents a 23.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 7,500 shares of company stock worth $339,915 and sold 420,000 shares worth $20,233,754. Insiders own 16.90% of the company’s stock.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $49.81 on Monday. The firm has a 50 day simple moving average of $47.88 and a 200-day simple moving average of $34.26. 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 firm has a market cap of $1.76 billion, a PE ratio of 34.83, a P/E/G ratio of 3.35 and a beta of 1.28. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $53.88.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $185.39 million during the quarter, compared to analyst estimates 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. On average, equities analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CECO. Citigroup reaffirmed an “outperform” rating on shares of CECO Environmental in a report on Wednesday, July 30th. Zacks Research downgraded shares of CECO Environmental from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Needham & Company LLC upped their price target on shares of CECO Environmental from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 21st. HC Wainwright upped their price target on shares of CECO Environmental from $33.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Northland Securities set a $51.00 price target on shares of CECO Environmental in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CECO Environmental currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.80.

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.