The Manufacturers Life Insurance Company Makes New Investment in CECO Environmental Corp. $CECO

The Manufacturers Life Insurance Company bought a new position in CECO Environmental Corp. (NASDAQ:CECO) in the 2nd quarter, HoldingsChannel reports. The fund bought 24,784 shares of the company’s stock, valued at approximately $2,249,000.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of CECO Environmental during the 2nd quarter valued at approximately $392,358,000. Vanguard Group Inc. boosted its holdings in CECO Environmental by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,780,596 shares of the company’s stock worth $106,569,000 after purchasing an additional 9,840 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CECO Environmental by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 903,291 shares of the company’s stock worth $53,813,000 after purchasing an additional 7,751 shares during the period. Geode Capital Management LLC increased its stake in CECO Environmental by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 729,700 shares of the company’s stock valued at $43,680,000 after purchasing an additional 8,734 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of CECO Environmental by 104.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 718,992 shares of the company’s stock worth $43,032,000 after purchasing an additional 366,611 shares during the period. 68.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jason Dezwirek sold 34,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the transaction, the director directly owned 166,000 shares of the company’s stock, valued at approximately $16,037,260. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter K. Johansson sold 30,000 shares of CECO Environmental stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the sale, the chief financial officer owned 40,746 shares in the company, valued at approximately $3,931,581.54. This represents a 42.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 18.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They issued an “overweight” rating and a $130.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of CECO Environmental in a research note on Tuesday, August 11th. Zacks Research cut shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Northland Securities set a $125.00 target price on CECO Environmental in a research note on Thursday, August 13th. Finally, TD Cowen started coverage on CECO Environmental in a report on Wednesday, August 5th. They set a “buy” rating and a $85.00 target price for the company. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

CECO Environmental Trading Up 0.8%

Shares of NASDAQ:CECO opened at $71.11 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $76.63 and its 200 day moving average price is $73.99. The company has a market cap of $4.16 billion, a PE ratio of -103.06 and a beta of 1.51. CECO Environmental Corp. has a fifty-two week low of $42.82 and a fifty-two week high of $101.24.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.26 by $0.21. The company had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. CECO Environmental’s revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 earnings per share. Sell-side analysts anticipate that CECO Environmental Corp. will post 2.35 earnings per share for the current year.

CECO Environmental Profile

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.