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

Allspring Global Investments Holdings LLC raised its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 442,969 shares of the company's stock after purchasing an additional 22,981 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.26% of CECO Environmental worth $10,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in shares of CECO Environmental in the 4th quarter valued at about $56,000. Heck Capital Advisors LLC acquired a new stake in shares of CECO Environmental in the 4th quarter valued at about $74,000. Jones Financial Companies Lllp raised its stake in shares of CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after purchasing an additional 1,658 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of CECO Environmental in the 4th quarter valued at about $218,000. Finally, ProShare Advisors LLC acquired a new stake in shares of CECO Environmental in the 4th quarter valued at about $249,000. Institutional investors and hedge funds own 68.08% of the company's stock.

CECO Environmental Stock Up 1.2%

Shares of NASDAQ:CECO traded up $0.35 during midday trading on Friday, reaching $29.46. The company had a trading volume of 126,410 shares, compared to its average volume of 276,057. 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 business's 50 day moving average price is $27.18 and its 200 day moving average price is $26.10. The stock has a market cap of $1.04 billion, a PE ratio of 22.83, a P/E/G ratio of 2.07 and a beta of 1.33. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $35.16.

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

Analyst Ratings Changes

Several analysts have issued reports on CECO shares. HC Wainwright raised CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price target on the stock in a research note on Wednesday, April 30th. Needham & Company LLC lifted their target price on CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $36.00.

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.