CECO Environmental Corp. (NASDAQ:CECO) Stake Increased by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 135.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 312,810 shares of the company's stock after acquiring an additional 180,221 shares during the period. Fred Alger Management LLC owned approximately 0.89% of CECO Environmental worth $8,821,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of CECO Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company's stock valued at $35,138,000 after purchasing an additional 24,812 shares during the last quarter. Boston Partners purchased a new stake in CECO Environmental during the first quarter valued at about $516,000. CWM LLC increased its stake in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company's stock worth $65,000 after acquiring an additional 708 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of CECO Environmental in the 2nd quarter worth about $201,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of CECO Environmental in the 2nd quarter valued at about $317,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Stock Up 0.5 %

NASDAQ:CECO traded up $0.17 during trading hours on Friday, hitting $32.05. The stock had a trading volume of 194,674 shares, compared to its average volume of 363,832. The company has a market cap of $1.12 billion, a PE ratio of 97.12, a price-to-earnings-growth ratio of 2.72 and a beta of 1.35. The business has a 50 day simple moving average of $27.31 and a two-hundred day simple moving average of $27.09. CECO Environmental Corp. has a 1-year low of $18.50 and a 1-year high of $33.52. 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 (NASDAQ:CECO - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same period in the previous year, the business posted $0.22 earnings per share. CECO Environmental's revenue for the quarter was down 9.3% on a year-over-year basis. Analysts predict that CECO Environmental Corp. will post 0.79 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CECO. Needham & Company LLC cut their price target 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. HC Wainwright reissued a "buy" rating and issued a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental presently has a consensus rating of "Buy" and a consensus target price of $34.40.

CECO Environmental 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.