Allspring Global Investments Holdings LLC Has $13.66 Million Stock Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Allspring Global Investments Holdings LLC increased its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 65.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 484,518 shares of the company’s stock after buying an additional 191,286 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CECO Environmental were worth $13,663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of CECO Environmental by 247.5% during the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares in the last quarter. Boston Partners bought a new position in CECO Environmental in the 1st quarter valued at $516,000. Vanguard Group Inc. increased its stake in shares of CECO Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after buying an additional 24,812 shares during the period. Sei Investments Co. raised its position in shares of CECO Environmental by 35.2% during the first quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,614,000 after acquiring an additional 18,272 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in CECO Environmental in the second quarter valued at about $15,495,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CECO shares. Northland Securities boosted their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Craig Hallum raised their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm upped their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright raised their price target on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC upped their price objective on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.80.

CECO Environmental Price Performance

Shares of CECO stock opened at $26.77 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 12-month low of $15.57 and a 12-month high of $31.55. The firm has a fifty day moving average of $27.43 and a 200-day moving average of $26.43. The firm has a market capitalization of $935.24 million, a price-to-earnings ratio of 76.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company had revenue of $137.50 million during the quarter, compared to the consensus estimate of $143.33 million. During the same period in the prior year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that CECO Environmental Corp. will post 0.93 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.