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

Allspring Global Investments Holdings LLC boosted its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,969 shares of the company's stock after buying an additional 22,981 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.26% of CECO Environmental worth $10,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of CECO Environmental by 118.8% during the fourth quarter. Bank of America Corp DE now owns 100,484 shares of the company's stock valued at $3,038,000 after purchasing an additional 54,551 shares during the period. Rhumbline Advisers raised its holdings in shares of CECO Environmental by 3.8% during the first quarter. Rhumbline Advisers now owns 42,146 shares of the company's stock valued at $961,000 after acquiring an additional 1,532 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of CECO Environmental during the fourth quarter valued at approximately $7,334,000. Deutsche Bank AG raised its holdings in shares of CECO Environmental by 52.2% during the fourth quarter. Deutsche Bank AG now owns 25,994 shares of the company's stock valued at $786,000 after acquiring an additional 8,910 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CECO Environmental by 18.8% during 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 valued at $2,664,000 after acquiring an additional 13,930 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company's stock.

CECO Environmental Stock Performance

NASDAQ:CECO traded down $0.21 on Monday, hitting $29.79. The stock had a trading volume of 243,161 shares, compared to its average volume of 275,926. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. 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 simple moving average is $27.39 and its two-hundred day simple moving average is $26.08. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $35.16.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. CECO Environmental had a return on equity of 10.10% and a net margin of 7.80%. The business had revenue of $176.70 million for the quarter, compared to analysts' expectations of $151.53 million. CECO Environmental's revenue was up 39.9% compared to the same quarter last year. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC upped their target price on CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $36.00.

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.