IQ EQ FUND MANAGEMENT IRELAND Ltd Has $744,000 Stock Position in CECO Environmental Corp. $CECO

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in CECO Environmental Corp. (NASDAQ:CECO) by 38.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,283 shares of the company’s stock after purchasing an additional 7,295 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.07% of CECO Environmental worth $744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in CECO Environmental by 224.7% in the second quarter. Farther Finance Advisors LLC now owns 1,445 shares of the company’s stock valued at $41,000 after buying an additional 1,000 shares during the period. Caption Management LLC acquired a new stake in shares of CECO Environmental in the 1st quarter valued at approximately $182,000. XTX Topco Ltd acquired a new stake in shares of CECO Environmental in the 1st quarter valued at approximately $217,000. Envestnet Asset Management Inc. bought a new position in CECO Environmental during the 2nd quarter worth approximately $306,000. Finally, Alpine Global Management LLC acquired a new position in CECO Environmental during the first quarter valued at approximately $247,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Trading Down 0.9%

CECO opened at $48.04 on Thursday. The stock has a market capitalization of $1.70 billion, a P/E ratio of 34.07, a P/E/G ratio of 3.27 and a beta of 1.28. The company has a current ratio of 1.33, a quick ratio of 1.13 and a debt-to-equity ratio of 0.70. CECO Environmental Corp. has a 12 month low of $17.57 and a 12 month high of $53.88. The firm’s fifty day simple moving average is $49.16 and its 200 day simple moving average is $36.93.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $197.60 million during the quarter, compared to analyst estimates of $190.36 million. CECO Environmental had a net margin of 7.22% and a return on equity of 10.84%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. As a group, research analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd R. Gleason sold 98,101 shares of CECO Environmental stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $50.45, for a total value of $4,949,195.45. Following the sale, the chief executive officer owned 410,835 shares of the company’s stock, valued at approximately $20,726,625.75. This trade represents a 19.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard F. Wallman purchased 3,000 shares of CECO Environmental stock in a transaction on Friday, September 5th. The shares were purchased at an average cost of $46.93 per share, with a total value of $140,790.00. Following the transaction, the director owned 80,500 shares in the company, valued at approximately $3,777,865. The trade was a 3.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 7,500 shares of company stock worth $339,915 and sold 300,000 shares worth $15,104,854. 18.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Lake Street Capital reiterated a “buy” rating and issued a $56.00 target price on shares of CECO Environmental in a report on Wednesday, July 30th. Zacks Research downgraded CECO Environmental from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Needham & Company LLC lifted their target price on CECO Environmental from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday. HC Wainwright increased their price target on CECO Environmental from $33.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Northland Securities set a $60.00 price target on CECO Environmental in a research report on Monday, October 20th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CECO Environmental has a consensus rating of “Moderate Buy” and an average price target of $53.60.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.