New York State Common Retirement Fund Increases Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

New York State Common Retirement Fund boosted its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 28.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,632 shares of the company’s stock after purchasing an additional 11,339 shares during the period. New York State Common Retirement Fund’s holdings in Montrose Environmental Group were worth $1,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MEG. M&T Bank Corp purchased a new position in shares of Montrose Environmental Group during the 3rd quarter valued at $598,000. Versor Investments LP bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $214,000. Jump Financial LLC bought a new stake in Montrose Environmental Group in the third quarter valued at $280,000. Quantbot Technologies LP purchased a new position in shares of Montrose Environmental Group during the third quarter valued at about $109,000. Finally, Swiss National Bank raised its stake in Montrose Environmental Group by 1.8% in the third quarter. Swiss National Bank now owns 62,900 shares of the company’s stock worth $1,840,000 after buying an additional 1,100 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 12,500 shares of the 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 transaction, the chief executive officer now owns 316,637 shares of the company’s stock, valued at approximately $14,726,786.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is owned by company insiders.

Montrose Environmental Group Trading Down 0.5 %

Shares of Montrose Environmental Group stock opened at $43.05 on Friday. The company has a fifty day moving average of $41.05 and a 200 day moving average of $33.95. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $47.94. The company has a market capitalization of $1.32 billion, a P/E ratio of -27.25 and a beta of 1.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.59.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $165.74 million for the quarter, compared to analysts’ expectations of $157.31 million. On average, sell-side analysts anticipate that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.