JPMorgan Chase & Co. Increases Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

JPMorgan Chase & Co. raised its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 159.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,206 shares of the company’s stock after buying an additional 43,739 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Montrose Environmental Group worth $1,873,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MEG. Dimensional Fund Advisors LP boosted its position in Montrose Environmental Group by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 508,414 shares of the company’s stock valued at $22,657,000 after buying an additional 38,701 shares during the period. XTX Topco Ltd purchased a new stake in Montrose Environmental Group during the 2nd quarter valued at $386,000. Benjamin F. Edwards & Company Inc. boosted its position in Montrose Environmental Group by 43.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after buying an additional 586 shares during the period. Sei Investments Co. boosted its position in Montrose Environmental Group by 42.4% during the 2nd quarter. Sei Investments Co. now owns 70,250 shares of the company’s stock valued at $3,130,000 after buying an additional 20,911 shares during the period. Finally, Fred Alger Management LLC boosted its position in Montrose Environmental Group by 17.6% during the 2nd quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company’s stock valued at $62,192,000 after buying an additional 208,785 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MEG. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research report on Thursday, October 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research report on Friday, January 17th. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. Finally, 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 research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.60.

Montrose Environmental Group Trading Down 2.2 %

Montrose Environmental Group stock opened at $23.47 on Thursday. The stock has a market cap of $805.06 million, a P/E ratio of -15.75 and a beta of 1.70. 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 1 year low of $15.21 and a 1 year high of $49.97. The firm’s 50 day moving average price is $18.85 and its 200-day moving average price is $25.61.

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.