Walleye Capital LLC Takes $2.29 Million Position in CECO Environmental Corp. $CECO

Walleye Capital LLC acquired a new position in CECO Environmental Corp. (NASDAQ:CECO) during the first quarter, HoldingsChannel.com reports. The fund acquired 38,449 shares of the company’s stock, valued at approximately $2,291,000.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in CECO Environmental in the 3rd quarter worth $25,000. Morton Brown Family Wealth LLC purchased a new position in CECO Environmental during the first quarter valued at $29,000. Advisory Services Network LLC bought a new stake in CECO Environmental during the third quarter valued at about $31,000. KBC Group NV bought a new stake in CECO Environmental during the first quarter valued at about $44,000. Finally, Strs Ohio purchased a new stake in CECO Environmental in the first quarter worth about $66,000. Institutional investors own 68.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard F. Wallman acquired 20,000 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the purchase, the director directly owned 105,500 shares of the company’s stock, valued at approximately $8,107,675. This trade represents a 23.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total value of $3,284,740.00. Following the completion of 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. The SEC filing for this sale provides additional information. Corporate insiders own 18.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CECO shares. Zacks Research upgraded shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Lake Street Capital upped their target price 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. Needham & Company LLC increased their price target on CECO Environmental from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Roth Capital reissued a “buy” rating and set a $85.00 price target on shares of CECO Environmental in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. began coverage on CECO Environmental in a research note on Thursday, July 9th. They set an “overweight” rating and a $130.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $106.71.

CECO Environmental Price Performance

Shares of CECO Environmental stock opened at $79.59 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of 215.11 and a beta of 1.47. The stock has a 50 day moving average of $85.60 and a 200 day moving average of $73.16. The company has a current ratio of 1.33, a quick ratio of 1.18 and a debt-to-equity ratio of 0.78. CECO Environmental Corp. has a 12 month low of $33.04 and a 12 month high of $101.24.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $205.92 million for the quarter, compared to the consensus estimate of $198.88 million. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, research analysts expect that CECO Environmental Corp. will post 1.97 EPS for the current fiscal 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.