Envestnet Asset Management Inc. raised its holdings in Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,482 shares of the company’s stock after buying an additional 5,275 shares during the period. Envestnet Asset Management Inc. owned about 0.54% of Montrose Environmental Group worth $5,367,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Captrust Financial Advisors purchased a new position in shares of Montrose Environmental Group during the first quarter worth about $29,000. Stephens Inc. AR grew its holdings in shares of Montrose Environmental Group by 33.7% during the second quarter. Stephens Inc. AR now owns 1,064 shares of the company’s stock worth $36,000 after purchasing an additional 268 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Montrose Environmental Group during the second quarter worth about $57,000. Tower Research Capital LLC TRC grew its holdings in shares of Montrose Environmental Group by 38.5% during the third quarter. Tower Research Capital LLC TRC now owns 2,362 shares of the company’s stock worth $79,000 after purchasing an additional 657 shares during the last quarter. Finally, Private Trust Co. NA purchased a new position in shares of Montrose Environmental Group during the second quarter worth about $110,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Montrose Environmental Group
In related news, Director Richard E. Perlman sold 600 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $54.04, for a total value of $32,424.00. Following the completion of the sale, the director now owns 693,317 shares in the company, valued at $37,466,850.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Richard E. Perlman sold 600 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $54.04, for a total value of $32,424.00. Following the completion of the sale, the director now owns 693,317 shares in the company, valued at $37,466,850.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard E. Perlman sold 21,540 shares of Montrose Environmental Group stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $54.18, for a total transaction of $1,167,037.20. Following the sale, the director now owns 745,898 shares of the company’s stock, valued at $40,412,753.64. The disclosure for this sale can be found here. Insiders sold a total of 128,272 shares of company stock worth $6,798,617 over the last 90 days. Company insiders own 11.00% of the company’s stock.
Montrose Environmental Group Price Performance
Shares of NYSE:MEG opened at $37.17 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.10 billion, a P/E ratio of -22.94 and a beta of 1.72. Montrose Environmental Group, Inc. has a 52 week low of $28.36 and a 52 week high of $57.49. The company has a 50-day moving average price of $49.68 and a 200 day moving average price of $44.49.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on MEG shares. JPMorgan Chase & Co. lowered Montrose Environmental Group from an “overweight” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a report on Thursday. Bank of America raised Montrose Environmental Group from a “neutral” rating to a “buy” rating in a report on Monday, December 12th. Morgan Stanley lowered their price target on Montrose Environmental Group from $51.00 to $47.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 14th. Finally, Needham & Company LLC lowered their price target on Montrose Environmental Group from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday. Two investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.
Montrose Environmental Group Profile
Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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.
Recommended Stories
Want to see what other hedge funds are holding MEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating).
Receive News & Ratings for Montrose Environmental Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Montrose Environmental Group and related companies with MarketBeat.com’s FREE daily email newsletter.