Peregrine Capital Management LLC Sells 61,734 Shares of CECO Environmental Corp. $CECO

Peregrine Capital Management LLC lowered its position in CECO Environmental Corp. (NASDAQ:CECO) by 20.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 233,215 shares of the company’s stock after selling 61,734 shares during the quarter. Peregrine Capital Management LLC’s holdings in CECO Environmental were worth $11,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Segall Bryant & Hamill LLC purchased a new stake in CECO Environmental during the second quarter valued at approximately $7,394,000. Osterweis Capital Management Inc. acquired a new stake in shares of CECO Environmental during the 2nd quarter worth about $7,175,000. CSM Advisors LLC acquired a new position in CECO Environmental in the 2nd quarter valued at about $5,248,000. G2 Investment Partners Management LLC acquired a new position in CECO Environmental during the 2nd quarter worth approximately $3,397,000. Finally, Pier Capital LLC acquired a new stake in shares of CECO Environmental during the 2nd quarter worth about $3,226,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Performance

Shares of NASDAQ CECO opened at $60.79 on Friday. CECO Environmental Corp. has a 12 month low of $17.57 and a 12 month high of $63.98. The company has a market capitalization of $2.17 billion, a P/E ratio of 43.11 and a beta of 1.39. The stock has a 50 day moving average of $55.80 and a 200-day moving average of $47.62. 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 (NASDAQ:CECO) last posted its earnings results on Tuesday, October 28th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $197.60 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.14 earnings per share. As a group, equities research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of CECO Environmental from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Northland Securities upped their price target on CECO Environmental from $60.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, December 24th. Needham & Company LLC raised their price target on shares of CECO Environmental from $57.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CECO Environmental in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.50.

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.