Navellier & Associates Inc. Sells 44,589 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Navellier & Associates Inc. trimmed its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 67.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,798 shares of the company’s stock after selling 44,589 shares during the period. Navellier & Associates Inc. owned 0.06% of CECO Environmental worth $659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CECO. Van ECK Associates Corp increased its holdings in CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after purchasing an additional 312,803 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in CECO Environmental during the 4th quarter valued at $6,278,000. Allspring Global Investments Holdings LLC increased its holdings in CECO Environmental by 65.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after purchasing an additional 191,286 shares in the last quarter. Fred Alger Management LLC increased its holdings in CECO Environmental by 135.9% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in CECO Environmental by 185.1% during the 3rd 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 in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Down 4.8 %

NASDAQ CECO opened at $23.00 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. CECO Environmental Corp. has a 52 week low of $18.50 and a 52 week high of $35.16. The stock has a fifty day moving average of $29.01 and a 200-day moving average of $28.34. The stock has a market capitalization of $804.52 million, a P/E ratio of 69.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41.

Analysts Set New Price Targets

A number of research firms recently weighed in on CECO. Craig Hallum raised their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Northland Securities lifted their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. HC Wainwright cut CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC lowered their target price on 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently 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.