CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,988 shares of the company's stock after selling 64,530 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.20% of CECO Environmental worth $12,696,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock worth $40,000 after purchasing an additional 591 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of CECO Environmental during the 4th quarter valued at about $74,000. Quest Partners LLC purchased a new stake in shares of CECO Environmental during the 3rd quarter valued at about $69,000. Morse Asset Management Inc purchased a new stake in shares of CECO Environmental during the 3rd quarter valued at about $76,000. Finally, Eastern Bank purchased a new stake in shares of CECO Environmental during the 3rd quarter valued at about $113,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Stock Down 4.8 %

CECO stock traded down $1.16 during midday trading on Friday, hitting $23.00. 215,051 shares of the company's stock were exchanged, compared to its average volume of 284,499. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 12-month low of $18.50 and a 12-month high of $35.16. The firm has a 50 day moving average price of $29.01 and a 200-day moving average price of $28.34. The stock has a market capitalization of $804.54 million, a price-to-earnings ratio of 69.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41.

Wall Street Analysts Forecast Growth

CECO has been the topic of several analyst reports. Northland Securities raised their target price on CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, December 20th. HC Wainwright downgraded CECO Environmental from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Craig Hallum raised their target price on CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CECO Environmental currently has an average rating of "Moderate Buy" and an average price target of $36.20.

CECO Environmental Company Profile

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.