Engineers Gate Manager LP Purchases 239,707 Shares of CECO Environmental Corp. $CECO

Engineers Gate Manager LP raised its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 6,952.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 243,155 shares of the company’s stock after purchasing an additional 239,707 shares during the quarter. Engineers Gate Manager LP’s holdings in CECO Environmental were worth $22,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CECO. Allworth Financial LP purchased a new stake in shares of CECO Environmental in the second quarter worth approximately $29,000. GAMMA Investing LLC boosted its holdings in CECO Environmental by 71.6% during the 2nd quarter. GAMMA Investing LLC now owns 369 shares of the company’s stock valued at $33,000 after acquiring an additional 154 shares during the period. Morton Brown Family Wealth LLC bought a new position in CECO Environmental in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in CECO Environmental in the 3rd quarter valued at $25,000. Finally, Advisory Services Network LLC purchased a new stake in CECO Environmental in the third quarter worth $31,000. Institutional investors own 68.08% of the company’s stock.

Analysts Set New Price Targets

CECO has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $110.00 target price on shares of CECO Environmental in a research report on Tuesday, August 11th. Lake Street Capital upped their price target on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. TD Cowen assumed coverage on shares of CECO Environmental in a research note on Wednesday, August 5th. They issued a “buy” rating and a $85.00 price target on the stock. Zacks Research lowered shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.88.

CECO Environmental Price Performance

Shares of CECO stock opened at $78.30 on Thursday. CECO Environmental Corp. has a 1-year low of $42.82 and a 1-year high of $101.24. The stock’s 50-day moving average is $75.16 and its 200 day moving average is $73.89. The company has a market cap of $4.59 billion, a P/E ratio of -113.48 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 1.18.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Monday, August 10th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $284.96 million during the quarter, compared to the consensus estimate of $282.21 million. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The firm’s revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. Research analysts predict that CECO Environmental Corp. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at CECO Environmental

In other news, CFO Peter Johansson sold 30,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the transaction, the chief financial officer owned 40,746 shares of the company’s stock, valued at $3,931,581.54. The trade was a 42.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason Dezwirek sold 34,000 shares of the business’s stock in a transaction that occurred 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 owned 166,000 shares of the company’s stock, valued at approximately $16,037,260. This trade represents a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.40% of the stock is currently owned by company insiders.

CECO Environmental Company 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.