Montrose Environmental Group, Inc. $MEG Stock Position Lessened by Royce & Associates LP

Royce & Associates LP lessened its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 15.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 875,499 shares of the company’s stock after selling 158,850 shares during the period. Royce & Associates LP owned 2.48% of Montrose Environmental Group worth $24,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in Montrose Environmental Group by 3,407.7% in the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after purchasing an additional 1,246,199 shares during the period. Marshall Wace LLP raised its stake in shares of Montrose Environmental Group by 245.0% in the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after buying an additional 272,444 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Montrose Environmental Group by 12.9% in the second quarter. Legal & General Group Plc now owns 904,154 shares of the company’s stock valued at $19,792,000 after buying an additional 103,460 shares during the period. Lisanti Capital Growth LLC acquired a new position in Montrose Environmental Group during the third quarter worth about $2,803,000. Finally, CenterBook Partners LP bought a new stake in Montrose Environmental Group in the third quarter worth about $2,587,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MEG has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen downgraded Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Barclays boosted their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.67.

Montrose Environmental Group Stock Up 2.1%

MEG opened at $29.22 on Monday. Montrose Environmental Group, Inc. has a 12 month low of $10.51 and a 12 month high of $32.00. The company has a market cap of $1.03 billion, a PE ratio of -121.73, a price-to-earnings-growth ratio of 2.06 and a beta of 2.02. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $24.03 and a 200 day moving average of $26.23.

Montrose Environmental Group (NYSE:MEG) last issued its earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The business had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. During the same quarter last year, the company earned ($0.90) EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Montrose Environmental Group Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.