Victory Capital Management Inc. Has $6.04 Million Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Victory Capital Management Inc. trimmed its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,666 shares of the company’s stock after selling 9,688 shares during the period. Victory Capital Management Inc. owned 0.67% of Montrose Environmental Group worth $6,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MEG. Benjamin F. Edwards & Company Inc. increased its holdings in Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after buying an additional 586 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Montrose Environmental Group by 11.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after purchasing an additional 504 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Montrose Environmental Group in the second quarter valued at about $204,000. Net Worth Advisory Group bought a new stake in shares of Montrose Environmental Group in the third quarter valued at about $213,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Montrose Environmental Group in the first quarter valued at about $271,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports 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 set a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Needham & Company LLC cut their price objective on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.20.

Montrose Environmental Group Trading Down 5.0 %

MEG opened at $17.87 on Friday. Montrose Environmental Group, Inc. has a twelve month low of $16.06 and a twelve month high of $49.97. The company has a 50-day simple moving average of $24.41 and a 200 day simple moving average of $33.80. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $612.96 million, a price-to-earnings ratio of -11.99 and a beta of 1.86.

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.