Avalon Trust Co Has $3.89 Million Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Avalon Trust Co reduced its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 209,865 shares of the company’s stock after selling 900 shares during the period. Avalon Trust Co’s holdings in Montrose Environmental Group were worth $3,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wrapmanager Inc. increased its stake in shares of Montrose Environmental Group by 12.8% in the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock valued at $187,000 after buying an additional 1,150 shares during the period. Natixis Advisors LLC boosted its position in shares of Montrose Environmental Group by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock worth $549,000 after purchasing an additional 1,351 shares during the last quarter. KBC Group NV boosted its position in shares of Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after purchasing an additional 1,613 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Montrose Environmental Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company’s stock worth $4,926,000 after purchasing an additional 1,831 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock worth $118,000 after purchasing an additional 1,898 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Performance

MEG stock opened at $16.90 on Friday. The business’s 50-day moving average price is $20.01 and its two-hundred day moving average price is $21.99. 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 firm has a market cap of $580.24 million, a PE ratio of -11.34 and a beta of 1.72. Montrose Environmental Group, Inc. has a 1-year low of $15.21 and a 1-year high of $49.97.

Wall Street Analysts Forecast Growth

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