Fisher Asset Management LLC Boosts Position in Montrose Environmental Group, Inc. $MEG

Fisher Asset Management LLC grew its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 18.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 257,872 shares of the company’s stock after buying an additional 39,331 shares during the period. Fisher Asset Management LLC owned 0.73% of Montrose Environmental Group worth $7,081,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lisanti Capital Growth LLC bought a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $2,803,000. Peregrine Capital Management LLC boosted its holdings in Montrose Environmental Group by 16.6% in the 3rd quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company’s stock valued at $7,796,000 after purchasing an additional 40,393 shares during the period. Atria Investments Inc purchased a new position in shares of Montrose Environmental Group during the 2nd quarter valued at $266,000. Global Alpha Capital Management Ltd. increased its holdings in shares of Montrose Environmental Group by 46.2% in the second quarter. Global Alpha Capital Management Ltd. now owns 162,982 shares of the company’s stock worth $3,568,000 after purchasing an additional 51,476 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in shares of Montrose Environmental Group in the second quarter worth $502,000. 87.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays boosted their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Needham & Company LLC upped their price objective on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.67.

Insiders Place Their Bets

In other Montrose Environmental Group news, Director J Thomas Presby sold 10,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $28.87, for a total value of $288,700.00. Following the completion of the sale, the director directly owned 62,614 shares of the company’s stock, valued at $1,807,666.18. The trade was a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total transaction of $1,229,782.76. Following the sale, the general counsel owned 204,878 shares of the company’s stock, valued at approximately $5,812,388.86. The trade was a 17.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,548 shares of company stock valued at $1,524,483 in the last ninety days. 11.90% of the stock is owned by corporate insiders.

Montrose Environmental Group Price Performance

MEG opened at $26.99 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $971.10 million, a P/E ratio of -112.45, a PEG ratio of 2.25 and a beta of 1.92. The stock has a 50-day moving average price of $24.16 and a 200-day moving average price of $26.24. Montrose Environmental Group, Inc. has a 12-month low of $10.51 and a 12-month high of $32.00.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The company had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. During the same quarter in the previous year, the company posted ($0.90) EPS. Montrose Environmental Group’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

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.