Charles Schwab Investment Management Inc. Decreases Stake in Montrose Environmental Group, Inc. $MEG

Charles Schwab Investment Management Inc. cut its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 259,229 shares of the company’s stock after selling 6,300 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of Montrose Environmental Group worth $3,697,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MEG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Montrose Environmental Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,096 shares of the company’s stock valued at $336,000 after purchasing an additional 636 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Montrose Environmental Group by 4.3% during the 1st quarter. Rhumbline Advisers now owns 45,101 shares of the company’s stock valued at $643,000 after purchasing an additional 1,875 shares in the last quarter. Quarry LP purchased a new position in shares of Montrose Environmental Group during the 4th quarter valued at approximately $36,000. MetLife Investment Management LLC increased its holdings in shares of Montrose Environmental Group by 14.6% during the 4th quarter. MetLife Investment Management LLC now owns 21,065 shares of the company’s stock valued at $391,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Montrose Environmental Group by 23.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,127 shares of the company’s stock valued at $355,000 after purchasing an additional 3,591 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 target price (up from $30.00) on shares of Montrose Environmental Group in a report on Friday, August 8th. Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Montrose Environmental Group Stock Up 3.5%

NYSE MEG opened at $31.19 on Friday. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $34.09. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $24.31 and its 200-day simple moving average is $19.75. The firm has a market cap of $1.10 billion, a PE ratio of -20.66, a P/E/G ratio of 2.56 and a beta of 1.90.

Montrose Environmental Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 7th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.