Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC cut its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,198 shares of the company’s stock after selling 1,035 shares during the quarter. Naviter Wealth LLC’s holdings in Montrose Environmental Group were worth $810,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Global Retirement Partners LLC boosted its position in Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock valued at $98,000 after purchasing an additional 1,971 shares during the period. Quantbot Technologies LP bought a new stake in shares of Montrose Environmental Group in the third quarter valued at about $109,000. Versor Investments LP bought a new position in shares of Montrose Environmental Group during the 3rd quarter worth approximately $214,000. Jump Financial LLC acquired a new position in Montrose Environmental Group in the third quarter worth $280,000. Finally, Graham Capital Management L.P. raised its position in shares of Montrose Environmental Group by 118.8% during the third quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock worth $318,000 after acquiring an additional 5,898 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. increased their target price on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research report on Thursday, April 4th.

Montrose Environmental Group Trading Down 1.6 %

Montrose Environmental Group stock opened at $42.57 on Tuesday. Montrose Environmental Group, Inc. has a 12-month low of $21.96 and a 12-month high of $45.96. The firm has a 50 day moving average of $39.33 and a 200 day moving average of $33.05. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -27.38 and a beta of 2.00.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The firm had revenue of $165.74 million during the quarter, compared to analyst estimates of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. As a group, research analysts predict that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current year.

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.