The Manufacturers Life Insurance Company raised its stake in Montrose Environmental Group, Inc. (NYSE:MEG – Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,123 shares of the company’s stock after buying an additional 1,695 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Montrose Environmental Group were worth $540,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its holdings in Montrose Environmental Group by 453.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock valued at $53,000 after buying an additional 1,111 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Montrose Environmental Group in the 2nd quarter valued at $204,000. CANADA LIFE ASSURANCE Co grew its holdings in Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Montrose Environmental Group in the 1st quarter valued at $271,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Montrose Environmental Group in the 2nd quarter valued at $310,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.
Montrose Environmental Group Price Performance
MEG opened at $26.89 on Wednesday. The stock’s 50-day moving average price is $28.75 and its 200 day moving average price is $37.45. Montrose Environmental Group, Inc. has a 12-month low of $19.59 and a 12-month high of $49.97. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The firm has a market cap of $916.44 million, a price-to-earnings ratio of -18.17 and a beta of 1.87.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a research note on Thursday, October 3rd. Evercore ISI assumed coverage on Montrose Environmental Group in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $45.60.
Check Out Our Latest Stock Analysis on Montrose Environmental Group
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.
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