Montrose Environmental Group, Inc. $MEG Stake Trimmed by Blair William & Co. IL

Blair William & Co. IL lessened its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 328,976 shares of the company’s stock after selling 21,155 shares during the period. Blair William & Co. IL owned about 0.93% of Montrose Environmental Group worth $9,034,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MEG. Lisanti Capital Growth LLC acquired a new stake in Montrose Environmental Group during the 3rd quarter worth about $2,803,000. Peregrine Capital Management LLC boosted its holdings in shares of Montrose Environmental Group by 16.6% during the third quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company’s stock worth $7,796,000 after purchasing an additional 40,393 shares during the period. Atria Investments Inc purchased a new position in Montrose Environmental Group during the second quarter valued at approximately $266,000. Fisher Asset Management LLC lifted its position in Montrose Environmental Group by 18.0% in the 3rd quarter. Fisher Asset Management LLC now owns 257,872 shares of the company’s stock worth $7,081,000 after buying an additional 39,331 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Montrose Environmental Group in the 2nd quarter worth approximately $502,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MEG shares. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Needham & Company LLC increased their price objective on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.67.

Insider Buying and Selling

In other Montrose Environmental Group news, Director J Thomas Presby sold 10,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $28.87, for a total transaction of $288,700.00. Following the transaction, the director owned 62,614 shares in the company, valued at $1,807,666.18. This trade represents a 13.77% decrease in their ownership of the stock. The sale 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 Montrose Environmental Group stock in a transaction that occurred on 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 completion of the transaction, the general counsel directly owned 204,878 shares in the company, valued at approximately $5,812,388.86. This represents a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,548 shares of company stock valued at $1,524,483 in the last ninety days. Company insiders own 11.20% of the company’s stock.

Montrose Environmental Group Trading Up 0.6%

Montrose Environmental Group stock opened at $27.16 on Tuesday. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The company’s fifty day moving average price is $24.20 and its two-hundred day moving average price is $26.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $977.25 million, a price-to-earnings ratio of -113.17, a PEG ratio of 2.23 and a beta of 1.91.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly 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. The company had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.90) earnings per share. On average, analysts forecast 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.