Peregrine Asset Advisers Inc. Sells 39,984 Shares of CECO Environmental Corp. $CECO

Peregrine Asset Advisers Inc. lessened its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 35.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,886 shares of the company’s stock after selling 39,984 shares during the quarter. CECO Environmental accounts for 1.2% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 28th biggest holding. Peregrine Asset Advisers Inc. owned 0.21% of CECO Environmental worth $4,402,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in shares of CECO Environmental by 8.0% in the 4th quarter. ProShare Advisors LLC now owns 5,390 shares of the company’s stock worth $323,000 after purchasing an additional 399 shares during the period. Osaic Holdings Inc. increased its holdings in CECO Environmental by 3.5% during the second quarter. Osaic Holdings Inc. now owns 12,297 shares of the company’s stock valued at $348,000 after buying an additional 412 shares during the last quarter. Ellsworth Advisors LLC raised its position in CECO Environmental by 3.2% in the fourth quarter. Ellsworth Advisors LLC now owns 15,047 shares of the company’s stock worth $996,000 after acquiring an additional 462 shares during the period. Morton Brown Family Wealth LLC bought a new position in CECO Environmental in the first quarter worth approximately $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of CECO Environmental during the 3rd quarter worth $25,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Performance

Shares of NASDAQ CECO opened at $82.15 on Friday. The stock has a market cap of $2.95 billion, a PE ratio of 222.03 and a beta of 1.47. CECO Environmental Corp. has a 1 year low of $28.68 and a 1 year high of $101.24. The firm has a fifty day moving average price of $84.22 and a 200-day moving average price of $70.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.33 and a quick ratio of 1.18.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, April 28th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $205.92 million for the quarter, compared to analysts’ expectations of $198.88 million. CECO Environmental had a net margin of 1.70% and a return on equity of 13.69%. CECO Environmental’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. Equities analysts anticipate that CECO Environmental Corp. will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman acquired 20,000 shares of the stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $76.85 per share, for a total transaction of $1,537,000.00. Following the completion of the transaction, the director directly owned 105,500 shares of the company’s stock, valued at approximately $8,107,675. The trade was a 23.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jason Dezwirek sold 34,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was 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 directly owned 166,000 shares of the company’s stock, valued at approximately $16,037,260. This trade represents a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 18.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CECO shares. Needham & Company LLC boosted their price objective on shares of CECO Environmental from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Roth Mkm reaffirmed a “buy” rating and issued a $85.00 target price on shares of CECO Environmental in a report on Wednesday, April 29th. Craig Hallum reiterated a “buy” rating and set a $103.00 target price on shares of CECO Environmental in a research report on Tuesday, April 28th. Lake Street Capital boosted their price target on CECO Environmental from $80.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, Northland Securities set a $118.00 price target on CECO Environmental in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, CECO Environmental has an average rating of “Buy” and a consensus price target of $102.83.

CECO Environmental Company Profile

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.