Needham Investment Management LLC Raises Stock Position in CECO Environmental Corp. $CECO

Needham Investment Management LLC raised its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 70.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 298,500 shares of the company’s stock after buying an additional 123,500 shares during the period. CECO Environmental comprises approximately 1.1% of Needham Investment Management LLC’s holdings, making the stock its 28th largest position. Needham Investment Management LLC’s holdings in CECO Environmental were worth $17,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of CECO Environmental in the third quarter worth $25,000. Aventura Private Wealth LLC bought a new position in CECO Environmental in the fourth quarter valued at about $30,000. Advisory Services Network LLC bought a new position in CECO Environmental in the third quarter valued at about $31,000. Comerica Bank boosted its position in CECO Environmental by 10,578.6% in the fourth quarter. Comerica Bank now owns 1,495 shares of the company’s stock worth $89,000 after purchasing an additional 1,481 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in CECO Environmental in the fourth quarter worth about $90,000. 68.08% of the stock is owned by institutional investors.

CECO Environmental Stock Down 1.8%

NASDAQ CECO opened at $95.01 on Tuesday. CECO Environmental Corp. has a 52 week low of $27.50 and a 52 week high of $101.24. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.41 billion, a P/E ratio of 256.78 and a beta of 1.49. The stock’s 50-day moving average price is $76.52 and its 200-day moving average price is $67.49.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The company had revenue of $205.92 million during the quarter, compared to the consensus estimate of $198.88 million. During the same period in the previous year, the company posted $0.10 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities research analysts predict that CECO Environmental Corp. will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CECO shares. Roth Mkm reaffirmed a “buy” rating and set a $85.00 price target on shares of CECO Environmental in a research report on Wednesday, April 29th. Zacks Research upgraded shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Craig Hallum reaffirmed a “buy” rating and set a $103.00 target price on shares of CECO Environmental in a report on Tuesday, April 28th. Needham & Company LLC increased their price target on shares of CECO Environmental from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, HC Wainwright lifted their price target on shares of CECO Environmental from $55.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $102.83.

Insider Activity

In other news, Director Richard F. Wallman acquired 20,000 shares of CECO Environmental stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the completion of the purchase, the director directly owned 105,500 shares in the company, valued at approximately $8,107,675. This trade represents a 23.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is currently owned by company insiders.

About CECO Environmental

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.