Blair William & Co. IL Lowers Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Blair William & Co. IL lowered its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 646,612 shares of the company’s stock after selling 104,076 shares during the period. Blair William & Co. IL owned about 1.89% of Montrose Environmental Group worth $11,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC increased its position in Montrose Environmental Group by 175.0% during the 4th quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock valued at $27,255,000 after purchasing an additional 934,938 shares during the period. Fred Alger Management LLC increased its holdings in Montrose Environmental Group by 33.7% during the third quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock valued at $49,086,000 after buying an additional 470,706 shares during the period. Summit Creek Advisors LLC raised its stake in Montrose Environmental Group by 49.4% in the fourth quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company’s stock worth $10,716,000 after buying an additional 190,992 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Montrose Environmental Group by 50.6% during the fourth quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after buying an additional 161,957 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Montrose Environmental Group by 62.5% during the 4th quarter. Fisher Asset Management LLC now owns 280,409 shares of the company’s stock valued at $5,202,000 after acquiring an additional 107,880 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI dropped their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $14.45 on Friday. Montrose Environmental Group, Inc. has a fifty-two week low of $14.28 and a fifty-two week high of $49.97. The company has a market cap of $500.76 million, a PE ratio of -9.70 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The business has a 50-day simple moving average of $18.76 and a two-hundred day simple moving average of $20.94.

Montrose Environmental Group Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.