Montrose Environmental Group, Inc. $MEG Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 12.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,541 shares of the company’s stock after selling 31,860 shares during the quarter. Fisher Asset Management LLC owned approximately 0.62% of Montrose Environmental Group worth $4,784,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Montrose Environmental Group by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock valued at $33,913,000 after buying an additional 97,035 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Montrose Environmental Group by 21.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company’s stock worth $50,734,000 after acquiring an additional 414,272 shares during the period. Millennium Management LLC increased its holdings in shares of Montrose Environmental Group by 4.4% in the 1st quarter. Millennium Management LLC now owns 1,504,541 shares of the company’s stock worth $21,455,000 after acquiring an additional 62,826 shares during the period. Legal & General Group Plc lifted its position in Montrose Environmental Group by 12.9% in the 2nd quarter. Legal & General Group Plc now owns 904,154 shares of the company’s stock valued at $19,792,000 after purchasing an additional 103,460 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Montrose Environmental Group by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 765,027 shares of the company’s stock valued at $16,748,000 after purchasing an additional 27,316 shares during the period. 87.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the sale, the chief executive officer owned 316,637 shares in the company, valued at approximately $7,621,452.59. The trade was a 12.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

Analyst Upgrades and Downgrades

MEG has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Wall Street Zen downgraded Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Zacks Research cut Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Finally, Barclays raised their price target on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.40.

Montrose Environmental Group Trading Down 0.1%

Montrose Environmental Group stock opened at $26.03 on Friday. The firm has a market cap of $919.79 million, a price-to-earnings ratio of -28.60, a price-to-earnings-growth ratio of 2.90 and a beta of 1.99. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The firm’s 50 day moving average price is $26.57 and its two-hundred day moving average price is $25.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $224.89 million during the quarter, compared to analyst estimates of $201.46 million. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%. On average, research analysts predict that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

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.