Allspring Global Investments Holdings LLC Sells 37,408 Shares of CECO Environmental Corp. $CECO

Allspring Global Investments Holdings LLC lessened its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 16.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 194,322 shares of the company’s stock after selling 37,408 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CECO Environmental were worth $11,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CECO. Caitong International Asset Management Co. Ltd purchased a new stake in CECO Environmental in the 3rd quarter worth about $25,000. Aventura Private Wealth LLC purchased a new stake in CECO Environmental during the fourth quarter valued at about $30,000. Advisory Services Network LLC purchased a new stake in CECO Environmental during the third quarter valued at about $31,000. Global Retirement Partners LLC bought a new position in CECO Environmental during the third quarter worth about $50,000. Finally, First Horizon Corp bought a new position in CECO Environmental during the third quarter worth about $64,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Performance

Shares of CECO opened at $62.18 on Monday. The business’s 50-day moving average price is $64.61 and its 200-day moving average price is $58.49. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $81.72. The stock has a market cap of $2.22 billion, a PE ratio of 45.72 and a beta of 1.41. The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.65.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The firm had revenue of $214.69 million during the quarter, compared to the consensus estimate of $205.39 million. CECO Environmental had a net margin of 6.46% and a return on equity of 10.60%. CECO Environmental’s revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. On average, equities analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CECO has been the topic of several research reports. Lake Street Capital reissued a “buy” rating and issued a $80.00 price target on shares of CECO Environmental in a research report on Wednesday, February 25th. Weiss Ratings downgraded shares of CECO Environmental from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, March 4th. Roth Mkm lifted their price objective on shares of CECO Environmental from $58.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of CECO Environmental in a report on Thursday, March 26th. Finally, HC Wainwright increased their target price on CECO Environmental from $55.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.20.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.