Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada Sells 12,500 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada sold 12,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $46.51, for a total transaction of $581,375.00. Following the completion of the sale, the chief executive officer now owns 316,637 shares in the company, valued at approximately $14,726,786.87. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Montrose Environmental Group Trading Down 0.5 %

Shares of NYSE:MEG opened at $43.05 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $41.05 and its 200 day moving average price is $33.95. The company has a market cap of $1.32 billion, a PE ratio of -27.25 and a beta of 1.91. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $47.94.

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

Institutional Investors Weigh In On Montrose Environmental Group

Several institutional investors have recently bought and sold shares of MEG. Vanguard Group Inc. increased its stake in Montrose Environmental Group by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,500,617 shares of the company’s stock valued at $43,908,000 after buying an additional 13,721 shares during the period. Federated Hermes Inc. grew its holdings in Montrose Environmental Group by 1.6% during the third quarter. Federated Hermes Inc. now owns 1,260,500 shares of the company’s stock worth $36,882,000 after acquiring an additional 20,000 shares during the period. Blair William & Co. IL lifted its holdings in Montrose Environmental Group by 30.4% in the 1st quarter. Blair William & Co. IL now owns 732,318 shares of the company’s stock valued at $28,685,000 after acquiring an additional 170,924 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Montrose Environmental Group by 18.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 625,562 shares of the company’s stock valued at $20,099,000 after purchasing an additional 95,417 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Montrose Environmental Group by 0.7% in the 1st quarter. William Blair Investment Management LLC now owns 589,317 shares of the company’s stock worth $23,084,000 after purchasing an additional 3,824 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Stifel Nicolaus reiterated a “buy” rating and set a $51.00 target price (up previously from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday.

About Montrose Environmental Group

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.