Van ECK Associates Corp Acquires 158,215 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Van ECK Associates Corp lifted its stake in CECO Environmental Corp. (NASDAQ:CECO) by 41.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 538,092 shares of the company’s stock after purchasing an additional 158,215 shares during the period. Van ECK Associates Corp owned about 1.54% of CECO Environmental worth $16,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Calamos Advisors LLC grew its position in shares of CECO Environmental by 27.7% during the 4th quarter. Calamos Advisors LLC now owns 112,075 shares of the company’s stock worth $3,388,000 after buying an additional 24,314 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in CECO Environmental during the 4th quarter valued at about $74,000. Principal Financial Group Inc. raised its holdings in shares of CECO Environmental by 17.6% in the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock valued at $627,000 after purchasing an additional 3,330 shares in the last quarter. Barclays PLC lifted its position in shares of CECO Environmental by 115.0% in the 3rd quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $1,795,000 after purchasing an additional 34,027 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CECO Environmental by 1.7% during the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after purchasing an additional 11,857 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $24.27 on Friday. CECO Environmental Corp. has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $848.96 million, a PE ratio of 73.55, a P/E/G ratio of 1.64 and a beta of 1.41. The business has a 50-day simple moving average of $29.90 and a two-hundred day simple moving average of $28.47.

Wall Street Analysts Forecast Growth

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

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.