CenterBook Partners LP Acquires New Holdings in Montrose Environmental Group, Inc. $MEG

CenterBook Partners LP bought a new position in Montrose Environmental Group, Inc. (NYSE:MEG) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 94,209 shares of the company’s stock, valued at approximately $2,587,000. CenterBook Partners LP owned 0.27% of Montrose Environmental Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its holdings in shares of Montrose Environmental Group by 533.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares during the last quarter. CWM LLC lifted its stake in shares of Montrose Environmental Group by 1,015.3% in the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock worth $99,000 after purchasing an additional 4,102 shares during the period. AlphaQuest LLC boosted its holdings in shares of Montrose Environmental Group by 17.4% in the second quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock worth $105,000 after buying an additional 713 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Montrose Environmental Group during the second quarter valued at approximately $113,000. 87.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MEG. Barclays lifted their price target on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Wall Street Zen cut Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Needham & Company LLC increased their target price on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.67.

Montrose Environmental Group Stock Up 2.3%

Shares of MEG opened at $22.59 on Friday. The business’s 50 day moving average is $24.19 and its 200 day moving average is $26.20. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70. Montrose Environmental Group, Inc. has a 12-month low of $10.51 and a 12-month high of $32.00. The company has a market capitalization of $798.33 million, a PE ratio of -24.82, a price-to-earnings-growth ratio of 1.56 and a beta of 2.02.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.