Avalon Trust Co Increases Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Avalon Trust Co boosted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,800 shares of the company’s stock after acquiring an additional 5,750 shares during the quarter. Avalon Trust Co’s holdings in Montrose Environmental Group were worth $4,331,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MEG. Emerald Advisers LLC boosted its position in shares of Montrose Environmental Group by 62.4% during the third quarter. Emerald Advisers LLC now owns 777,221 shares of the company’s stock valued at $22,741,000 after buying an additional 298,629 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Montrose Environmental Group by 51.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 635,695 shares of the company’s stock valued at $18,600,000 after purchasing an additional 215,883 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Montrose Environmental Group by 42.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 470,800 shares of the company’s stock valued at $13,557,000 after purchasing an additional 140,000 shares during the period. GSA Capital Partners LLP bought a new stake in Montrose Environmental Group in the 3rd quarter worth approximately $1,782,000. Finally, Van ECK Associates Corp raised its stake in Montrose Environmental Group by 58.6% during the 3rd quarter. Van ECK Associates Corp now owns 86,047 shares of the company’s stock valued at $2,518,000 after buying an additional 31,788 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MEG. JPMorgan Chase & Co. lifted their price objective on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of Montrose Environmental Group in a research report on Thursday, April 4th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price objective (up previously from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd.

Montrose Environmental Group Stock Performance

Shares of NYSE:MEG traded up $0.24 during mid-day trading on Friday, reaching $44.51. 459,784 shares of the company traded hands, compared to its average volume of 362,893. Montrose Environmental Group, Inc. has a 52 week low of $21.96 and a 52 week high of $45.96. The firm has a market cap of $1.36 billion, a PE ratio of -28.17 and a beta of 1.91. The company’s 50 day moving average price is $40.22 and its 200-day moving average price is $33.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.59 and a quick ratio of 1.59.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The firm had revenue of $165.74 million during the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. On average, equities analysts expect that Montrose Environmental Group, Inc. will post -0.18 EPS for the current fiscal year.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.