CECO Environmental Corp. (NASDAQ:CECO) Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in CECO Environmental by 3.3%, owning 2.68% of the company worth approximately $21.5 million.
• CECO Environmental's stock price rose 2.2% to $34.63, with a market capitalization of $1.22 billion and a P/E ratio of 26.85.
• Recent research analyst upgrades include a price target increase to $34.00 by Needham & Company, and five analysts have rated the stock with a consensus of "Buy".

Royce & Associates LP increased its stake in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 945,002 shares of the company's stock after acquiring an additional 29,790 shares during the period. Royce & Associates LP owned about 2.68% of CECO Environmental worth $21,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CECO. Capital International Investors raised its position in shares of CECO Environmental by 12.1% in the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company's stock worth $59,593,000 after acquiring an additional 212,476 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of CECO Environmental by 63.0% in the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock worth $52,623,000 after acquiring an additional 673,050 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CECO Environmental by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company's stock worth $49,839,000 after acquiring an additional 9,023 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CECO Environmental by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 691,705 shares of the company's stock worth $20,916,000 after acquiring an additional 2,218 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of CECO Environmental by 6,409.3% in the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company's stock worth $19,524,000 after acquiring an additional 635,931 shares in the last quarter. Institutional investors own 68.08% of the company's stock.

CECO Environmental Trading Up 2.2%

Shares of NASDAQ:CECO traded up $0.75 during trading hours on Friday, hitting $34.63. 203,635 shares of the company's stock traded hands, compared to its average volume of 217,128. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.71 and a quick ratio of 1.52. The firm has a market capitalization of $1.22 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.34 and a beta of 1.33. The business has a fifty day moving average price of $29.18 and a 200-day moving average price of $26.26. 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 issued its quarterly 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 analyst estimates of $151.53 million. CECO Environmental had a net margin of 7.80% and a return on equity of 10.10%. The company's revenue was up 39.9% compared to the same quarter last year. Equities analysts expect that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CECO shares. Needham & Company LLC raised their price objective on 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 upgraded 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target 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.