Allspring Global Investments Holdings LLC Acquires 22,981 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Allspring Global Investments Holdings LLC grew its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 5.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 442,969 shares of the company’s stock after buying an additional 22,981 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CECO Environmental were worth $10,100,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE grew its stake in CECO Environmental by 118.8% in the fourth quarter. Bank of America Corp DE now owns 100,484 shares of the company’s stock worth $3,038,000 after purchasing an additional 54,551 shares in the last quarter. Rhumbline Advisers grew its stake in CECO Environmental by 3.8% in the first quarter. Rhumbline Advisers now owns 42,146 shares of the company’s stock worth $961,000 after purchasing an additional 1,532 shares in the last quarter. Raymond James Financial Inc. bought a new position in CECO Environmental in the fourth quarter worth approximately $7,334,000. Deutsche Bank AG grew its stake in CECO Environmental by 52.2% in the fourth quarter. Deutsche Bank AG now owns 25,994 shares of the company’s stock worth $786,000 after purchasing an additional 8,910 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CECO Environmental by 18.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company’s stock worth $2,664,000 after purchasing an additional 13,930 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Up 1.2%

CECO Environmental stock opened at $29.46 on Friday. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $35.16. The business has a fifty day moving average of $26.99 and a two-hundred day moving average of $26.13. The company has a quick ratio of 1.52, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.04 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.01 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. CECO Environmental had a return on equity of 10.10% and a net margin of 7.80%. The firm had revenue of $176.70 million during the quarter, compared to analyst estimates of $151.53 million. The company’s quarterly revenue was up 39.9% on a year-over-year basis. On average, analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CECO. HC Wainwright upgraded CECO Environmental from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, April 30th. Needham & Company LLC upped their target price on CECO Environmental from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental has a consensus rating of “Buy” and a consensus target price of $36.00.

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.