Radnor Capital Management LLC Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Radnor Capital Management LLC acquired a new position in Montrose Environmental Group, Inc. (NYSE:MEG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,660 shares of the company’s stock, valued at approximately $574,000.

A number of other hedge funds have also made changes to their positions in MEG. Summit Creek Advisors LLC lifted its stake in shares of Montrose Environmental Group by 22.0% during the fourth quarter. Summit Creek Advisors LLC now owns 228,344 shares of the company’s stock worth $7,337,000 after purchasing an additional 41,189 shares in the last quarter. Swiss National Bank lifted its position in Montrose Environmental Group by 1.8% during the 3rd quarter. Swiss National Bank now owns 62,900 shares of the company’s stock worth $1,840,000 after acquiring an additional 1,100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Montrose Environmental Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 214,047 shares of the company’s stock worth $6,263,000 after acquiring an additional 7,140 shares during the period. Fisher Asset Management LLC grew its position in Montrose Environmental Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,628 shares of the company’s stock valued at $5,161,000 after acquiring an additional 4,802 shares in the last quarter. Finally, Graham Capital Management L.P. raised its stake in shares of Montrose Environmental Group by 118.8% during the third quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock valued at $318,000 after purchasing an additional 5,898 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MEG. Stifel Nicolaus restated a “buy” rating and issued a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st.

Montrose Environmental Group Stock Down 2.2 %

Shares of NYSE MEG opened at $46.33 on Monday. The business has a 50 day simple moving average of $45.20 and a 200-day simple moving average of $38.15. Montrose Environmental Group, Inc. has a twelve month low of $21.96 and a twelve month high of $49.97. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.98.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Tuesday, May 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Montrose Environmental Group had a negative net margin of 4.55% and a negative return on equity of 1.78%. The business had revenue of $155.33 million for the quarter, compared to the consensus estimate of $152.61 million. Analysts expect that Montrose Environmental Group, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vijay Manthripragada sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $46.51, for a total transaction of $581,375.00. Following the completion of the transaction, the chief executive officer now directly owns 316,637 shares of the company’s stock, valued at $14,726,786.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is currently owned by corporate insiders.

Montrose Environmental Group Company 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.