Rice Hall James & Associates LLC Decreases Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Rice Hall James & Associates LLC lowered its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 66,282 shares of the company’s stock after selling 1,432 shares during the period. Rice Hall James & Associates LLC owned 0.19% of Montrose Environmental Group worth $1,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC lifted its holdings in Montrose Environmental Group by 1.8% in the 4th quarter. Peregrine Capital Management LLC now owns 231,393 shares of the company’s stock valued at $4,292,000 after purchasing an additional 4,111 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Montrose Environmental Group by 1.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 472,627 shares of the company’s stock valued at $8,767,000 after purchasing an additional 7,782 shares in the last quarter. KBC Group NV lifted its holdings in Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after purchasing an additional 1,613 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Montrose Environmental Group in the 4th quarter valued at $322,000. Finally, Avanza Fonder AB purchased a new position in Montrose Environmental Group in the 4th quarter valued at $105,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Down 3.6 %

Shares of NYSE:MEG opened at $18.15 on Wednesday. The business has a 50-day moving average price of $19.72 and a 200 day moving average price of $23.66. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $622.68 million, a price-to-earnings ratio of -12.18 and a beta of 1.71. Montrose Environmental Group, Inc. has a 12-month low of $15.21 and a 12-month high of $49.97.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus cut their target price on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $52.00 to $29.00 in a research note on Wednesday, November 6th. Finally, Evercore ISI cut their target price on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.