Peregrine Capital Management LLC Boosts Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Peregrine Capital Management LLC grew its position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 15.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,552 shares of the company's stock after purchasing an additional 32,893 shares during the period. Peregrine Capital Management LLC owned approximately 0.68% of CECO Environmental worth $5,485,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mackenzie Financial Corp bought a new stake in CECO Environmental during the fourth quarter valued at $56,000. Heck Capital Advisors LLC purchased a new stake in shares of CECO Environmental in the 4th quarter valued at about $74,000. Jones Financial Companies Lllp boosted its position in shares of CECO Environmental by 127.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after acquiring an additional 1,658 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of CECO Environmental during the fourth quarter worth about $218,000. Finally, ProShare Advisors LLC bought a new position in shares of CECO Environmental in the fourth quarter worth approximately $249,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

CECO Environmental Stock Performance

Shares of NASDAQ CECO opened at $28.31 on Tuesday. The stock's 50-day moving average is $26.38 and its 200 day moving average is $26.11. The stock has a market cap of $998.49 million, a price-to-earnings ratio of 21.95, a P/E/G ratio of 2.04 and a beta of 1.35. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $35.16. The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 1.17.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million for the quarter, compared to the consensus estimate of $151.53 million. CECO Environmental had a net margin of 7.80% and a return on equity of 10.10%. The firm's revenue for the quarter was up 39.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal 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.

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