Peregrine Capital Management LLC Acquires Shares of 207,659 CECO Environmental Corp. (NASDAQ:CECO)

Peregrine Capital Management LLC acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 207,659 shares of the company's stock, valued at approximately $6,278,000. Peregrine Capital Management LLC owned about 0.59% of CECO Environmental at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CECO. Principal Financial Group Inc. raised its stake in CECO Environmental by 10.1% in the 4th quarter. Principal Financial Group Inc. now owns 24,493 shares of the company's stock worth $740,000 after acquiring an additional 2,247 shares during the last quarter. Rhumbline Advisers raised its stake in CECO Environmental by 2.7% in the 4th quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock worth $1,228,000 after acquiring an additional 1,080 shares during the last quarter. Van ECK Associates Corp boosted its position in CECO Environmental by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock valued at $16,267,000 after buying an additional 158,215 shares during the last quarter. Calamos Advisors LLC boosted its position in CECO Environmental by 27.7% in the fourth quarter. Calamos Advisors LLC now owns 112,075 shares of the company's stock valued at $3,388,000 after buying an additional 24,314 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in CECO Environmental in the fourth quarter valued at approximately $74,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CECO. Craig Hallum upped their target price on CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Northland Securities raised their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Needham & Company LLC reduced their target price on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, HC Wainwright downgraded CECO Environmental from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, CECO Environmental presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.20.

CECO Environmental Price Performance

Shares of CECO stock traded down $1.16 during mid-day trading on Friday, hitting $23.00. 215,051 shares of the stock were exchanged, compared to its average volume of 284,499. The firm has a fifty day moving average of $29.19 and a 200 day moving average of $28.36. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $35.16. The company has a market cap of $804.54 million, a PE ratio of 69.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41.

About CECO Environmental

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.