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

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

Several other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Montrose Environmental Group by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 263,698 shares of the company’s stock worth $6,935,000 after acquiring an additional 6,143 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter worth $295,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Montrose Environmental Group in the 3rd quarter worth $6,801,000. Global Alpha Capital Management Ltd. boosted its holdings in Montrose Environmental Group by 26.3% in the third quarter. Global Alpha Capital Management Ltd. now owns 69,890 shares of the company’s stock valued at $1,838,000 after acquiring an additional 14,559 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Montrose Environmental Group during the third quarter valued at about $212,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Trading Down 4.9 %

NYSE MEG opened at $17.89 on Friday. The company 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 debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. Montrose Environmental Group, Inc. has a 12 month low of $16.06 and a 12 month high of $49.97. The company’s fifty day moving average price is $24.41 and its two-hundred day moving average price is $33.70.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MEG shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Needham & Company LLC lowered their price objective on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.20.

Montrose Environmental Group 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.