Mutual of America Capital Management LLC Has $1.77 Million Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Mutual of America Capital Management LLC trimmed its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 18.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,157 shares of the company’s stock after selling 15,360 shares during the period. Mutual of America Capital Management LLC owned approximately 0.20% of Montrose Environmental Group worth $1,766,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MEG. Vanguard Group Inc. raised its stake in shares of Montrose Environmental Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company’s stock valued at $60,502,000 after acquiring an additional 9,913 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Montrose Environmental Group by 17.6% in 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 last quarter. Federated Hermes Inc. increased its stake in shares of Montrose Environmental Group by 11.4% in the second quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company’s stock valued at $56,613,000 after buying an additional 130,000 shares during the period. Driehaus Capital Management LLC raised its position in shares of Montrose Environmental Group by 253.0% during the second quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock worth $51,210,000 after acquiring an additional 823,636 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Montrose Environmental Group by 5.1% in the second quarter. Blair William & Co. IL now owns 769,653 shares of the company’s stock worth $34,296,000 after acquiring an additional 37,335 shares during the period. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Price Performance

MEG stock opened at $17.89 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The company’s 50-day moving average is $24.41 and its 200-day moving average is $33.63. The stock has a market capitalization of $613.63 million, a PE ratio of -12.01 and a beta of 1.86. Montrose Environmental Group, Inc. has a 1 year low of $16.06 and a 1 year high of $49.97.

Analyst Upgrades and Downgrades

MEG has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Needham & Company LLC dropped their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Finally, Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.20.

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.