Royce & Associates LP Purchases 104,320 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Royce & Associates LP boosted its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 43.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 345,069 shares of the company’s stock after buying an additional 104,320 shares during the quarter. Royce & Associates LP’s holdings in Montrose Environmental Group were worth $9,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. raised its position in Montrose Environmental Group by 1.0% in the 1st quarter. Sei Investments Co. now owns 49,339 shares of the company’s stock valued at $1,933,000 after buying an additional 485 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after buying an additional 586 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Montrose Environmental Group by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock valued at $514,000 after buying an additional 1,211 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Montrose Environmental Group by 16.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,285 shares of the company’s stock valued at $331,000 after buying an additional 1,320 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Down 7.0 %

MEG stock opened at $18.88 on Monday. 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 company has a market capitalization of $647.60 million, a price-to-earnings ratio of -12.67 and a beta of 1.86. Montrose Environmental Group, Inc. has a fifty-two week low of $18.57 and a fifty-two week high of $49.97. The stock has a fifty day moving average of $25.42 and a 200-day moving average of $34.60.

Analyst Ratings Changes

MEG has been the subject of several research analyst reports. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Evercore ISI set a $43.00 target price on Montrose Environmental Group in a research report on Thursday, October 17th. Needham & Company LLC decreased their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

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.