CECO Environmental Corp. (NASDAQ:CECO) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 41.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 538,092 shares of the company’s stock after purchasing an additional 158,215 shares during the quarter. Van ECK Associates Corp’s holdings in CECO Environmental were worth $16,267,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. FMR LLC increased its holdings in CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock worth $22,174,000 after buying an additional 149,777 shares during the period. Geode Capital Management LLC increased its stake in shares of CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after acquiring an additional 11,857 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of CECO Environmental by 65.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock worth $13,663,000 after purchasing an additional 191,286 shares during the last quarter. Fred Alger Management LLC lifted its position in CECO Environmental by 135.9% during the third quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock valued at $8,821,000 after purchasing an additional 180,221 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CECO Environmental by 185.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after purchasing an additional 152,893 shares during the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

CECO Environmental Stock Performance

CECO opened at $24.27 on Friday. The firm’s fifty day simple moving average is $29.90 and its two-hundred day simple moving average is $28.47. CECO Environmental Corp. has a 52-week low of $18.50 and a 52-week high of $35.16. The company has a market cap of $848.96 million, a price-to-earnings ratio of 73.55, a PEG ratio of 1.64 and a beta of 1.41. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CECO. HC Wainwright cut CECO Environmental from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Northland Securities boosted their price target on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Craig Hallum raised their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC decreased their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Company 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.