Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 175.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,469,280 shares of the company’s stock after acquiring an additional 934,938 shares during the period. William Blair Investment Management LLC’s holdings in Montrose Environmental Group were worth $27,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MEG. KBC Group NV grew its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after buying an additional 1,613 shares during the last quarter. Avanza Fonder AB purchased a new position in Montrose Environmental Group during the 4th quarter worth approximately $105,000. Point72 DIFC Ltd purchased a new position in Montrose Environmental Group during the 3rd quarter worth approximately $111,000. PNC Financial Services Group Inc. grew its stake in Montrose Environmental Group by 42.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock worth $118,000 after buying an additional 1,898 shares during the last quarter. Finally, Wrapmanager Inc. grew its stake in Montrose Environmental Group by 12.8% during the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock worth $187,000 after buying an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MEG. Stifel Nicolaus dropped their price target on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Evercore ISI dropped their price target on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $39.00 price target on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Montrose Environmental Group currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Montrose Environmental Group Trading Down 4.3 %

Shares of MEG stock opened at $15.77 on Wednesday. The business’s 50 day moving average is $19.83 and its two-hundred day moving average is $21.68. Montrose Environmental Group, Inc. has a twelve month low of $15.21 and a twelve month high of $49.97. The company has a market capitalization of $541.54 million, a P/E ratio of -10.58 and a beta of 1.72. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

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.