Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,863 shares of the company’s stock after selling 26,206 shares during the period. Royce & Associates LP’s holdings in Montrose Environmental Group were worth $5,915,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Fred Alger Management LLC grew its position in shares of Montrose Environmental Group by 33.7% in the third quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock valued at $49,086,000 after purchasing an additional 470,706 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Montrose Environmental Group in the 3rd quarter valued at $6,801,000. Bank of New York Mellon Corp increased its stake in shares of Montrose Environmental Group by 50.6% in the 4th quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after acquiring an additional 161,957 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Montrose Environmental Group by 62.5% during the 4th quarter. Fisher Asset Management LLC now owns 280,409 shares of the company’s stock worth $5,202,000 after acquiring an additional 107,880 shares during the period. Finally, Bamco Inc. NY boosted its position in shares of Montrose Environmental Group by 7.4% during the 3rd quarter. Bamco Inc. NY now owns 1,242,630 shares of the company’s stock valued at $32,681,000 after acquiring an additional 86,000 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MEG. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 target price on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Evercore ISI reduced their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Finally, Stifel Nicolaus lowered their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $15.42 on Thursday. The company’s 50 day simple moving average is $19.72 and its 200-day simple moving average is $21.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. Montrose Environmental Group, Inc. has a 1 year low of $14.90 and a 1 year high of $49.97. The company has a market capitalization of $529.35 million, a price-to-earnings ratio of -10.35 and a beta of 1.72.

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.