Legato Capital Management LLC Has $1.40 Million Stake in CECO Environmental Corp. (NASDAQ:CECO)

Legato Capital Management LLC reduced its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 35.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,413 shares of the company's stock after selling 25,269 shares during the period. Legato Capital Management LLC owned about 0.13% of CECO Environmental worth $1,403,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Craig Hallum increased their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a report on Monday, January 6th. Northland Securities increased their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, December 20th. HC Wainwright cut shares of CECO Environmental from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Finally, Needham & Company LLC lowered their target price on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.20.

CECO Environmental Stock Performance

Shares of CECO traded down $1.16 during mid-day trading on Friday, hitting $24.27. 286,725 shares of the company's stock were exchanged, compared to its average volume of 322,316. CECO Environmental Corp. has a 52 week low of $18.50 and a 52 week high of $35.16. The stock's 50-day simple moving average is $29.90 and its 200-day simple moving average is $28.47. The firm has a market cap of $848.96 million, a price-to-earnings ratio of 73.55, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

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.