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

Allspring Global Investments Holdings LLC lifted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 65.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 484,518 shares of the company's stock after buying an additional 191,286 shares during the period. Allspring Global Investments Holdings LLC owned about 1.39% of CECO Environmental worth $13,663,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Essex Investment Management Co. LLC raised its position in CECO Environmental by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company's stock worth $5,878,000 after acquiring an additional 562 shares in the last quarter. CWM LLC increased its holdings in shares of CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company's stock valued at $65,000 after purchasing an additional 708 shares in the last quarter. Kessler Investment Group LLC lifted its stake in shares of CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company's stock valued at $207,000 after purchasing an additional 1,560 shares during the period. Principal Financial Group Inc. boosted its holdings in CECO Environmental by 14.8% during the second quarter. Principal Financial Group Inc. now owns 18,916 shares of the company's stock worth $546,000 after buying an additional 2,439 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in CECO Environmental during the first quarter worth about $72,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Price Performance

CECO Environmental stock traded up $0.29 during midday trading on Friday, reaching $26.77. 140,032 shares of the company were exchanged, compared to its average volume of 257,290. The company has a market capitalization of $935.24 million, a price-to-earnings ratio of 76.49, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. The firm's 50-day simple moving average is $27.43 and its 200-day simple moving average is $26.43. CECO Environmental Corp. has a 1 year low of $15.57 and a 1 year high of $31.55.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.04. The business had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, analysts anticipate that CECO Environmental Corp. will post 0.93 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CECO. Needham & Company LLC boosted their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. HC Wainwright boosted their target price on CECO Environmental from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Craig Hallum raised their price target on CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Roth Mkm lifted their price target on CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, Northland Securities increased their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $34.80.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the firm's stock in a transaction on Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now owns 62,000 shares in the company, valued at approximately $1,783,740. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.90% of the company's stock.

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.