J Thomas Presby Sells 10,000 Shares of Montrose Environmental Group (NYSE:MEG) Stock

Montrose Environmental Group, Inc. (NYSE:MEG) Director J Thomas Presby sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $28.87, for a total transaction of $288,700.00. Following the sale, the director owned 62,614 shares of the company’s stock, valued at $1,807,666.18. The trade was a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Montrose Environmental Group Trading Down 3.9%

Shares of Montrose Environmental Group stock traded down $1.12 on Wednesday, reaching $27.26. 259,444 shares of the company were exchanged, compared to its average volume of 447,399. Montrose Environmental Group, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $32.00. The stock has a fifty day moving average price of $24.13 and a 200-day moving average price of $26.23. The firm has a market capitalization of $980.81 million, a price-to-earnings ratio of 69.22, a price-to-earnings-growth ratio of 1.72 and a beta of 1.92. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Barclays boosted their price target on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC increased their price objective on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.67.

Hedge Funds Weigh In On Montrose Environmental Group

A number of institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC bought a new stake in Montrose Environmental Group during the 3rd quarter valued at approximately $32,000. Canada Pension Plan Investment Board grew its stake in shares of Montrose Environmental Group by 533.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after acquiring an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Montrose Environmental Group during the 4th quarter valued at $75,000. Finally, Assetmark Inc. bought a new stake in Montrose Environmental Group in the 4th quarter valued at $84,000. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Company 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.