Vijay Manthripragada Sells 46,121 Shares of Montrose Environmental Group (NYSE:MEG) Stock

Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada sold 46,121 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. This represents a 16.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Montrose Environmental Group Stock Performance

NYSE MEG opened at $22.87 on Wednesday. The company has a market capitalization of $822.93 million, a price-to-earnings ratio of -95.30, a PEG ratio of 1.72 and a beta of 1.92. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68. Montrose Environmental Group, Inc. has a twelve month low of $10.51 and a twelve month high of $32.00. The stock has a fifty day simple moving average of $24.18 and a 200 day simple moving average of $26.01.

Montrose Environmental Group (NYSE:MEG) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The firm had revenue of $193.27 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned ($0.90) EPS. Sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

MEG has been the topic of several analyst reports. Needham & Company LLC upped their target price on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Montrose Environmental Group has a consensus rating of “Hold” and an average price target of $34.67.

Hedge Funds Weigh In On Montrose Environmental Group

Several large investors have recently added to or reduced their stakes in MEG. Advisory Services Network LLC bought a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board raised its stake 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 purchasing an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after buying an additional 1,508 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $75,000. Finally, Assetmark Inc. bought a new stake in Montrose Environmental Group during the fourth quarter worth $84,000. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

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.