Charles Schwab Investment Management Inc. Has $6.94 Million Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Charles Schwab Investment Management Inc. boosted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,698 shares of the company’s stock after buying an additional 6,143 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.77% of Montrose Environmental Group worth $6,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Driehaus Capital Management LLC lifted its holdings in Montrose Environmental Group by 253.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock worth $51,210,000 after buying an additional 823,636 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Montrose Environmental Group by 271.2% in the second quarter. Bank of New York Mellon Corp now owns 377,997 shares of the company’s stock worth $16,844,000 after acquiring an additional 276,166 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Montrose Environmental Group in the third quarter valued at approximately $6,801,000. Victory Capital Management Inc. acquired a new stake in Montrose Environmental Group during the 2nd quarter valued at approximately $10,666,000. Finally, Fred Alger Management LLC raised its holdings in Montrose Environmental Group by 17.6% during the 2nd quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company’s stock worth $62,192,000 after purchasing an additional 208,785 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Down 5.2 %

Shares of MEG stock opened at $15.61 on Thursday. 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 $535.42 million, a price-to-earnings ratio of -10.48 and a beta of 1.72. Montrose Environmental Group, Inc. has a 52-week low of $15.21 and a 52-week high of $49.97. The company has a 50-day simple moving average of $21.91 and a two-hundred day simple moving average of $31.08.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $52.00 to $29.00 in a research note on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday. Needham & Company LLC dropped their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Montrose Environmental Group currently has an average rating of “Moderate Buy” and an average price target of $36.60.

Montrose Environmental Group Company 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.