Van ECK Associates Corp Purchases 312,803 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Van ECK Associates Corp boosted its holdings in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 466.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 379,877 shares of the company's stock after acquiring an additional 312,803 shares during the quarter. Van ECK Associates Corp owned 1.09% of CECO Environmental worth $10,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of CECO Environmental by 247.5% during the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company's stock valued at $1,025,000 after acquiring an additional 31,707 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in CECO Environmental in the first quarter valued at $366,000. Swiss National Bank boosted its position in CECO Environmental by 6.0% during the first quarter. Swiss National Bank now owns 61,800 shares of the company's stock worth $1,423,000 after purchasing an additional 3,500 shares in the last quarter. Sei Investments Co. raised its stake in CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company's stock worth $1,614,000 after purchasing an additional 18,272 shares during the period. Finally, SageView Advisory Group LLC lifted its stake in CECO Environmental by 90.0% during the 1st quarter. SageView Advisory Group LLC now owns 36,377 shares of the company's stock worth $837,000 after acquiring an additional 17,232 shares in the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CECO. 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 research note on Wednesday, October 30th. Roth Mkm lifted their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Northland Securities increased their target price on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Finally, HC Wainwright restated a "buy" rating and set a $35.00 target price on shares of CECO Environmental in a research report on Wednesday, October 30th. Five 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 price target of $34.40.

CECO Environmental Price Performance

Shares of NASDAQ CECO traded up $0.48 during trading hours on Thursday, hitting $25.50. 115,980 shares of the stock were exchanged, compared to its average volume of 266,174. CECO Environmental Corp. has a 1-year low of $17.35 and a 1-year high of $31.55. The company's fifty day simple moving average is $26.80 and its two-hundred day simple moving average is $26.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $891.99 million, a PE ratio of 75.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.35.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The company had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm's revenue was down 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.22 EPS. On average, sell-side analysts predict that CECO Environmental Corp. will post 0.82 EPS for the current year.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the business's stock in a transaction on Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now owns 62,000 shares of the company's stock, valued at approximately $1,783,740. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by insiders.

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.