14,276 Shares in Montrose Environmental Group, Inc. (NYSE:MEG) Purchased by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,276 shares of the company’s stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MEG. Charles Schwab Investment Management Inc. increased its position in Montrose Environmental Group by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 263,698 shares of the company’s stock worth $6,935,000 after buying an additional 6,143 shares during the period. Intech Investment Management LLC bought a new position in shares of Montrose Environmental Group during the third quarter worth about $295,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Montrose Environmental Group in the 3rd quarter worth about $6,801,000. Global Alpha Capital Management Ltd. lifted its position in Montrose Environmental Group by 26.3% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 69,890 shares of the company’s stock valued at $1,838,000 after purchasing an additional 14,559 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Montrose Environmental Group during the 3rd quarter valued at about $212,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Needham & Company LLC dropped their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research note on Thursday, October 17th. Finally, Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $29.00 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Montrose Environmental Group Stock Performance

Shares of NYSE MEG opened at $17.89 on Friday. The stock’s fifty day simple moving average is $24.41 and its 200 day simple moving average is $33.70. The stock has a market capitalization of $613.63 million, a price-to-earnings ratio of -12.01 and a beta of 1.86. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 52-week low of $16.06 and a 52-week high of $49.97.

About Montrose Environmental Group

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.