Penn Capital Management Company LLC Makes New $21.55 Million Investment in CECO Environmental Corp. $CECO

Penn Capital Management Company LLC bought a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO) in the second quarter, Holdings Channel reports. The fund bought 237,119 shares of the company’s stock, valued at approximately $21,554,000. CECO Environmental makes up approximately 1.4% of Penn Capital Management Company LLC’s holdings, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada grew its stake in CECO Environmental by 15.6% during the first quarter. Royal Bank of Canada now owns 14,661 shares of the company’s stock valued at $335,000 after acquiring an additional 1,982 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CECO Environmental by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,442 shares of the company’s stock worth $398,000 after purchasing an additional 790 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CECO Environmental by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,137 shares of the company’s stock worth $2,124,000 after purchasing an additional 5,000 shares in the last quarter. Jane Street Group LLC bought a new position in CECO Environmental in the 1st quarter valued at $1,047,000. Finally, Rhumbline Advisers grew its position in shares of CECO Environmental by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 43,137 shares of the company’s stock valued at $1,221,000 after purchasing an additional 991 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Richard F. Wallman acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average cost of $76.85 per share, with a total value of $1,537,000.00. Following the acquisition, the director owned 105,500 shares in the company, valued at approximately $8,107,675. This represents a 23.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason Dezwirek sold 34,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 166,000 shares of the company’s stock, valued at $16,037,260. The trade was a 17.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 18.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Lake Street Capital upped their price target on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Zacks Research cut CECO Environmental from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. initiated coverage on CECO Environmental in a research note on Thursday, July 9th. They issued an “overweight” rating and a $130.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price target on shares of CECO Environmental in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, CECO Environmental presently has an average rating of “Moderate Buy” and an average price target of $104.88.

CECO Environmental Stock Performance

CECO Environmental stock opened at $69.67 on Friday. The firm’s fifty day moving average price is $78.21 and its 200-day moving average price is $74.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 1.50. The stock has a market cap of $4.08 billion, a P/E ratio of -100.97 and a beta of 1.51. CECO Environmental Corp. has a fifty-two week low of $42.78 and a fifty-two week high of $101.24.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (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 during the quarter, compared to the consensus estimate of $282.21 million. During the same period in the previous year, the firm posted $0.26 EPS. The firm’s revenue was up 53.7% compared to the same quarter last year. On average, equities research analysts expect that CECO Environmental Corp. will post 2.35 earnings per share for the current fiscal 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.