Montrose Environmental Group, Inc. (NYSE:MEG) Receives Average Rating of “Hold” from Brokerages

Montrose Environmental Group, Inc. (NYSE:MEG) has been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.6667.

Several brokerages have weighed in on MEG. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Needham & Company LLC increased their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th.

Insider Buying and Selling at Montrose Environmental Group

In related news, Director J Thomas Presby sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 62,614 shares of the company’s stock, valued at approximately $1,807,666.18. This trade represents a 13.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jose Revuelta sold 7,858 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.00, for a total transaction of $212,166.00. Following the sale, the insider directly owned 269,282 shares in the company, valued at $7,270,614. The trade was a 2.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 107,527 shares of company stock valued at $2,908,583. 11.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of MEG. Alliancebernstein L.P. boosted its stake in Montrose Environmental Group by 3,407.7% during the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after buying an additional 1,246,199 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Montrose Environmental Group by 128.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after acquiring an additional 975,770 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Montrose Environmental Group during the fourth quarter worth about $10,140,000. Marshall Wace LLP increased its position in shares of Montrose Environmental Group by 245.0% in the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after purchasing an additional 272,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Montrose Environmental Group by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock valued at $36,192,000 after purchasing an additional 179,855 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Trading Down 1.7%

NYSE MEG opened at $21.99 on Friday. The business’s fifty day moving average is $23.96 and its 200-day moving average is $25.86. 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 stock has a market capitalization of $791.24 million, a price-to-earnings ratio of -91.63, a PEG ratio of 1.60 and a beta of 1.92. Montrose Environmental Group has a one year low of $10.51 and a one year high of $32.00.

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

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.