Montrose Environmental Group, Inc. (NYSE:MEG) Stock Holdings Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,517 shares of the company’s stock after selling 3,571 shares during the period. Mutual of America Capital Management LLC owned about 0.24% of Montrose Environmental Group worth $3,677,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. purchased a new position in Montrose Environmental Group in the 2nd quarter worth about $310,000. Dimensional Fund Advisors LP raised its holdings in shares of Montrose Environmental Group by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 508,414 shares of the company’s stock valued at $22,657,000 after acquiring an additional 38,701 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Montrose Environmental Group by 17.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,766 shares of the company’s stock valued at $970,000 after acquiring an additional 3,248 shares in the last quarter. Federated Hermes Inc. boosted its stake in Montrose Environmental Group by 11.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company’s stock worth $56,613,000 after purchasing an additional 130,000 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Montrose Environmental Group by 7.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 505,697 shares of the company’s stock worth $22,981,000 after purchasing an additional 34,897 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research report on Thursday, August 8th. Evercore ISI initiated coverage on Montrose Environmental Group in a research note on Wednesday, August 14th. They set an “outperform” rating and a $43.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Montrose Environmental Group has an average rating of “Buy” and an average target price of $45.60.

Montrose Environmental Group Stock Performance

Shares of NYSE MEG opened at $28.82 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. Montrose Environmental Group, Inc. has a one year low of $21.96 and a one year high of $49.97. The business’s 50-day moving average price is $31.64 and its two-hundred day moving average price is $39.15. The company has a market capitalization of $982.21 million, a P/E ratio of -19.47 and a beta of 1.88.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.15). The firm had revenue of $173.33 million during the quarter, compared to the consensus estimate of $174.59 million. Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. Analysts anticipate that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current fiscal year.

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.