Legal & General Group Plc Makes New $40.46 Million Investment in CECO Environmental Corp. $CECO

Legal & General Group Plc acquired a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 445,900 shares of the company’s stock, valued at approximately $40,461,000.

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

Insider Buying and Selling at CECO Environmental

In other news, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction dated Wednesday, June 24th. The shares were 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 in the company, valued at $16,037,260. This trade represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter K. Johansson sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 40,746 shares in the company, valued at approximately $3,931,581.54. This trade represents a 42.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 18.40% of the company’s stock.

Analyst Upgrades and Downgrades

CECO has been the subject of a number of recent analyst reports. 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 for the company. Weiss Ratings raised shares of CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. TD Cowen assumed coverage on shares of CECO Environmental in a research report on Wednesday, August 5th. They set a “buy” rating and a $85.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of CECO Environmental in a report on Tuesday, August 11th. Finally, Northland Securities set a $125.00 price objective on shares of CECO Environmental in a research report on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $104.88.

CECO Environmental Stock Performance

Shares of CECO opened at $69.67 on Friday. The firm has a market cap of $4.08 billion, a PE ratio of -100.97 and a beta of 1.51. The stock’s fifty day moving average price is $78.21 and its two-hundred day moving average price is $74.07. 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 Corp. has a 1 year low of $42.78 and a 1 year high of $101.24.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The company had revenue of $284.96 million during the quarter, compared to the consensus estimate of $282.21 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 53.7% compared to the same quarter last year. On average, equities research 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.