Charles Schwab Investment Management Inc. Raises Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Charles Schwab Investment Management Inc. raised its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 185.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,497 shares of the company's stock after acquiring an additional 152,893 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.67% of CECO Environmental worth $6,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in CECO Environmental by 71.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock worth $40,000 after acquiring an additional 591 shares in the last quarter. Quest Partners LLC bought a new position in shares of CECO Environmental in the third quarter worth approximately $69,000. Principal Financial Group Inc. increased its stake in shares of CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company's stock worth $627,000 after purchasing an additional 3,330 shares in the last quarter. Van ECK Associates Corp raised its position in shares of 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 during the period. Finally, Private Advisor Group LLC lifted its stake in shares of CECO Environmental by 5.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company's stock valued at $453,000 after buying an additional 885 shares in the last quarter. Institutional investors own 68.08% of the company's stock.

CECO Environmental Price Performance

NASDAQ CECO traded down $1.18 on Thursday, reaching $33.33. The company had a trading volume of 179,585 shares, compared to its average volume of 272,840. The firm's 50 day moving average price is $28.08 and its 200 day moving average price is $27.53. CECO Environmental Corp. has a 12 month low of $18.50 and a 12 month high of $35.16. The stock has a market capitalization of $1.17 billion, a PE ratio of 104.58, a price-to-earnings-growth ratio of 2.77 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.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. During the same period last year, the firm posted $0.22 earnings per share. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities analysts predict that CECO Environmental Corp. will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CECO. HC Wainwright reissued a "buy" rating and set a $35.00 price target on shares of CECO Environmental in a report on Wednesday, October 30th. Needham & Company LLC decreased their target price on CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $34.40.

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.