CECO Environmental Corp. (NASDAQ:CECO) Shares Bought by Foundry Partners LLC

Foundry Partners LLC grew its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,670 shares of the company's stock after acquiring an additional 21,200 shares during the period. Foundry Partners LLC owned about 0.49% of CECO Environmental worth $3,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mackenzie Financial Corp acquired a new position in CECO Environmental in the fourth quarter valued at about $56,000. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the 4th quarter valued at about $74,000. KLP Kapitalforvaltning AS purchased a new position in CECO Environmental in the 4th quarter worth approximately $218,000. ProShare Advisors LLC purchased a new position in shares of CECO Environmental during the fourth quarter valued at approximately $249,000. Finally, Two Sigma Securities LLC bought a new stake in shares of CECO Environmental during the fourth quarter valued at approximately $262,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CECO. HC Wainwright upgraded CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 target price on the stock in a research note on Wednesday, April 30th. Needham & Company LLC upped their price target 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $36.00.

CECO Environmental Stock Performance

CECO Environmental stock traded up $1.36 during midday trading on Wednesday, hitting $33.47. The company's stock had a trading volume of 79,372 shares, compared to its average volume of 270,131. The company has a 50-day moving average price of $28.72 and a two-hundred day moving average price of $26.18. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 2.18 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. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.71 and a quick ratio of 1.52.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued 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. The business had revenue of $176.70 million for the quarter, compared to analyst estimates of $151.53 million. CECO Environmental had a net margin of 7.80% and a return on equity of 10.10%. The firm's quarterly revenue was up 39.9% on a year-over-year basis. As a group, sell-side analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

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.