Intech Investment Management LLC Has $350,000 Stock Holdings in Montrose Environmental Group, Inc. $MEG

Intech Investment Management LLC reduced its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 34.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,992 shares of the company’s stock after selling 8,438 shares during the period. Intech Investment Management LLC’s holdings in Montrose Environmental Group were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Montrose Environmental Group in the first quarter valued at about $627,000. Federated Hermes Inc. lifted its position in Montrose Environmental Group by 55.0% during the 1st quarter. Federated Hermes Inc. now owns 24,800 shares of the company’s stock valued at $354,000 after purchasing an additional 8,800 shares during the period. Natixis Advisors LLC bought a new position in shares of Montrose Environmental Group in the 1st quarter valued at about $254,000. Global Alpha Capital Management Ltd. grew its position in shares of Montrose Environmental Group by 50.9% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 111,506 shares of the company’s stock worth $1,590,000 after buying an additional 37,616 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Montrose Environmental Group during the first quarter worth approximately $6,886,000. Institutional investors own 87.87% of the company’s stock.

Analysts Set New Price Targets

MEG has been the topic of several analyst reports. Zacks Research lowered shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Needham & Company LLC increased their price target on Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Finally, Barclays increased their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.40.

Montrose Environmental Group Trading Down 0.1%

NYSE MEG opened at $25.63 on Monday. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $905.62 million, a P/E ratio of -28.16, a P/E/G ratio of 2.85 and a beta of 1.99. The stock’s 50-day moving average is $26.77 and its 200-day moving average is $25.11.

Montrose Environmental Group (NYSE:MEG) last posted its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%. Montrose Environmental Group has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Montrose Environmental Group

In related news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the sale, the chief executive officer directly owned 316,637 shares in the company, valued at $7,621,452.59. This trade represents a 12.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.20% of the stock is currently owned by insiders.

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.