Fred Alger Management LLC Increases Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Fred Alger Management LLC grew its holdings in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,819 shares of the company's stock after acquiring an additional 11,009 shares during the period. Fred Alger Management LLC owned about 0.93% of CECO Environmental worth $9,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CECO. Barclays PLC lifted its position in shares of CECO Environmental by 115.0% in the third quarter. Barclays PLC now owns 63,615 shares of the company's stock valued at $1,795,000 after acquiring an additional 34,027 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental in the fourth quarter valued at about $74,000. Calamos Advisors LLC lifted its position in shares of CECO Environmental by 27.7% in the fourth quarter. Calamos Advisors LLC now owns 112,075 shares of the company's stock valued at $3,388,000 after acquiring an additional 24,314 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of CECO Environmental by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock valued at $16,267,000 after acquiring an additional 158,215 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of CECO Environmental by 2.7% in the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock valued at $1,228,000 after acquiring an additional 1,080 shares in the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CECO Environmental news, insider Peter K. Johansson sold 22,500 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the transaction, the insider now owns 62,160 shares in the company, valued at $1,417,248. The trade was a 26.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard F. Wallman bought 1,000 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the transaction, the director now directly owns 207,117 shares of the company's stock, valued at approximately $5,208,992.55. This trade represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

CECO Environmental Price Performance

Shares of CECO stock traded down $0.55 during trading hours on Friday, hitting $24.95. The stock had a trading volume of 169,094 shares, compared to its average volume of 286,867. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The stock's 50-day moving average price is $22.26 and its two-hundred day moving average price is $26.37. The stock has a market capitalization of $879.94 million, a price-to-earnings ratio of 75.61, a PEG ratio of 1.39 and a beta of 1.31.

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. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $176.70 million for the quarter, compared to analysts' expectations of $151.53 million. CECO Environmental's revenue for the quarter was up 39.9% compared to the same quarter last year. Equities analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current year.

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.