State Street Corp Acquires 5,687 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

State Street Corp lifted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 679,871 shares of the company’s stock after acquiring an additional 5,687 shares during the period. State Street Corp owned approximately 1.98% of Montrose Environmental Group worth $17,881,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MEG. Royce & Associates LP boosted its position in shares of Montrose Environmental Group by 43.3% during the 3rd quarter. Royce & Associates LP now owns 345,069 shares of the company’s stock worth $9,075,000 after acquiring an additional 104,320 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter valued at $3,119,000. FMR LLC boosted its holdings in shares of Montrose Environmental Group by 11.1% in the 3rd quarter. FMR LLC now owns 352,264 shares of the company’s stock valued at $9,265,000 after purchasing an additional 35,314 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Montrose Environmental Group in the 3rd quarter valued at $6,801,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Montrose Environmental Group by 189.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock worth $1,223,000 after buying an additional 30,437 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analyst Ratings Changes

MEG has been the subject of a number of research reports. Stifel Nicolaus dropped their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Evercore ISI set a $43.00 price objective on shares of Montrose Environmental Group in a research note on Thursday, October 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Needham & Company LLC dropped their price target on Montrose Environmental Group from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Montrose Environmental Group currently has an average rating of “Moderate Buy” and an average target price of $35.60.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $16.50 on Tuesday. The stock has a market cap of $565.97 million, a price-to-earnings ratio of -11.07 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. Montrose Environmental Group, Inc. has a fifty-two week low of $15.21 and a fifty-two week high of $49.97. The firm’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $29.50.

Montrose Environmental Group 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.