Jupiter Topco LLC Buys Shares of 949,904 CECO Environmental Corp. $CECO

Jupiter Topco LLC purchased a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 949,904 shares of the company’s stock, valued at approximately $86,194,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CECO. BlackRock Inc. bought a new stake in shares of CECO Environmental in the second quarter worth $392,358,000. Vanguard Group Inc. lifted 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 valued at $106,569,000 after acquiring an additional 9,840 shares during the period. Dimensional Fund Advisors LP lifted 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 valued at $53,813,000 after acquiring an additional 7,751 shares during the period. Geode Capital Management LLC boosted its position in CECO Environmental by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 729,700 shares of the company’s stock worth $43,680,000 after purchasing an additional 8,734 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in CECO Environmental by 104.0% in 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 last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CECO has been the subject of several research reports. Weiss Ratings lowered shares of CECO Environmental from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Northland Securities set a $125.00 price objective on shares of CECO Environmental in a report on Thursday, August 13th. JPMorgan Chase & Co. began coverage on shares of CECO Environmental in a report on Thursday, July 9th. They set an “overweight” rating and a $130.00 target price for the company. Zacks Research downgraded shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Roth Capital reissued a “buy” rating and set a $85.00 price objective on shares of CECO Environmental in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and an average target price of $104.88.

Insider Activity

In other news, CFO Peter K. Johansson sold 30,000 shares of the firm’s stock in a transaction on 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 directly owned 40,746 shares in the company, valued at $3,931,581.54. This trade represents a 42.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman bought 20,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price of $76.85 per share, for a total transaction of $1,537,000.00. Following the purchase, the director owned 105,500 shares in the company, valued at $8,107,675. This represents a 23.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 18.40% of the company’s stock.

CECO Environmental Trading Up 0.1%

Shares of NASDAQ:CECO opened at $70.33 on Thursday. The stock has a 50 day moving average of $79.32 and a 200 day moving average of $74.10. The company has a market cap of $4.12 billion, a PE ratio of -101.93 and a beta of 1.51. CECO Environmental Corp. has a 12-month low of $42.78 and a 12-month high of $101.24. The company has a current ratio of 1.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

CECO Environmental (NASDAQ:CECO) last released 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. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The company had revenue of $284.96 million for the quarter, compared to analysts’ expectations of $282.21 million. During the same quarter last year, the business earned $0.26 EPS. The firm’s revenue was up 53.7% compared to the same quarter last year. As a group, equities research analysts expect 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.