Legal & General Group Plc Invests $40.46 Million in CECO Environmental Corp. $CECO

Legal & General Group Plc bought a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 445,900 shares of the company’s stock, valued at approximately $40,461,000. Legal & General Group Plc owned 1.24% of CECO Environmental at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Peregrine Asset Advisers Inc. boosted its position in CECO Environmental by 142.1% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 113,870 shares of the company’s stock valued at $6,815,000 after acquiring an additional 66,843 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in CECO Environmental during the 2nd quarter worth about $2,230,000. Moran Wealth Management LLC raised its position in shares of CECO Environmental by 393.4% in the 1st quarter. Moran Wealth Management LLC now owns 56,953 shares of the company’s stock worth $3,393,000 after acquiring an additional 45,411 shares in the last quarter. Walleye Capital LLC bought a new position in shares of CECO Environmental in the 2nd quarter worth about $15,415,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of CECO Environmental in the 2nd quarter valued at about $19,944,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Down 3.4%

CECO stock opened at $69.67 on Friday. The stock’s 50 day simple moving average is $78.21 and its 200 day simple moving average is $74.07. The company has a market cap of $4.08 billion, a P/E ratio of -100.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 1.50. 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 announced its quarterly earnings data on Monday, August 10th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $284.96 million during the quarter, compared to analysts’ expectations of $282.21 million. During the same quarter last year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. On average, research analysts expect that CECO Environmental Corp. will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the transaction, the director owned 105,500 shares in the company, valued at $8,107,675. The trade was a 23.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $96.49, for a total value of $2,894,700.00. Following the sale, the chief financial officer directly owned 40,746 shares of the company’s stock, valued at $3,931,581.54. This represents a 42.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.40% of the company’s stock.

Analyst Upgrades and Downgrades

CECO has been the subject of a number of research analyst reports. Weiss Ratings upgraded CECO Environmental from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Northland Securities set a $125.00 price target on CECO Environmental in a report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They set an “overweight” rating and a $130.00 price objective for the company. Zacks Research lowered shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Lake Street Capital boosted their target price on shares of CECO Environmental from $80.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CECO Environmental has a consensus rating of “Moderate Buy” and an average price target of $104.88.

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.