Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 716,558 shares of the company’s stock after purchasing an additional 23,356 shares during the period. Geode Capital Management LLC owned approximately 2.09% of Montrose Environmental Group worth $18,850,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its stake in Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Montrose Environmental Group in the third quarter valued at $111,000. Los Angeles Capital Management LLC purchased a new position in shares of Montrose Environmental Group in the second quarter valued at $204,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Montrose Environmental Group during the 3rd quarter worth $212,000. Finally, Net Worth Advisory Group purchased a new stake in shares of Montrose Environmental Group in the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock opened at $17.45 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. Montrose Environmental Group, Inc. has a 12 month low of $15.21 and a 12 month high of $49.97. The company has a market cap of $598.55 million, a price-to-earnings ratio of -11.71 and a beta of 1.71. The stock’s 50-day moving average is $20.40 and its 200-day moving average is $28.65.

Wall Street Analysts Forecast Growth

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

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.