Empirical Asset Management LLC Takes $2.72 Million Position in CECO Environmental Corp. $CECO

Empirical Asset Management LLC acquired a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the second quarter, HoldingsChannel reports. The firm acquired 30,025 shares of the company’s stock, valued at approximately $2,724,000.

Several other hedge funds have also added to or reduced their stakes in CECO. Peregrine Asset Advisers Inc. raised its stake in shares of CECO Environmental by 142.1% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company’s stock valued at $6,815,000 after acquiring an additional 66,843 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of CECO Environmental during the second quarter worth $2,230,000. Moran Wealth Management LLC grew its stake in shares of CECO Environmental by 393.4% in the first quarter. Moran Wealth Management LLC now owns 56,953 shares of the company’s stock worth $3,393,000 after purchasing an additional 45,411 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of CECO Environmental in the second quarter worth $15,415,000. Finally, Assenagon Asset Management S.A. acquired a new stake in CECO Environmental in the second quarter valued at $19,944,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CECO has been the subject of several analyst reports. TD Cowen began coverage on CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 target price for the company. Roth Capital reissued a “buy” rating and issued a $85.00 price target on shares of CECO Environmental in a research note on Wednesday, April 29th. Lake Street Capital raised their price objective on CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Zacks Research downgraded CECO Environmental from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. started coverage on CECO Environmental in a research note on Thursday, July 9th. They issued an “overweight” rating and a $130.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.88.

Insider Activity

In other news, CFO Peter K. Johansson sold 30,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total value of $2,894,700.00. Following the transaction, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Wallman bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $76.85 per share, for a total transaction of $1,537,000.00. Following the transaction, the director owned 105,500 shares in the company, valued at $8,107,675. This represents a 23.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 16.90% of the stock is owned by company insiders.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $76.55 on Wednesday. The company has a market capitalization of $2.75 billion, a PE ratio of -110.94 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. CECO Environmental Corp. has a twelve month low of $42.78 and a twelve month high of $101.24. The firm has a fifty day simple moving average of $82.04 and a 200 day simple moving average of $73.98.

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

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.