Janney Montgomery Scott LLC Purchases New Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Janney Montgomery Scott LLC acquired a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,371 shares of the company’s stock, valued at approximately $322,000. Janney Montgomery Scott LLC owned about 0.05% of Montrose Environmental Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in Montrose Environmental Group in the 3rd quarter worth about $111,000. Avanza Fonder AB purchased a new position in shares of Montrose Environmental Group during the fourth quarter worth approximately $105,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Montrose Environmental Group during the third quarter valued at approximately $212,000. Net Worth Advisory Group purchased a new stake in shares of Montrose Environmental Group in the third quarter valued at approximately $213,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Montrose Environmental Group in the third quarter worth approximately $214,000. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Stock Down 9.5 %

Montrose Environmental Group stock opened at $19.08 on Wednesday. The firm has a market capitalization of $654.44 million, a P/E ratio of -12.81 and a beta of 1.71. The stock’s fifty day simple moving average is $19.58 and its 200-day simple moving average is $24.08. Montrose Environmental Group, Inc. has a twelve month low of $15.21 and a twelve month high of $49.97. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

Analyst Ratings Changes

Several equities research analysts have weighed in on MEG shares. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a report on Tuesday, January 28th. Evercore ISI dropped their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Stifel Nicolaus lowered their price target 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. 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.