Barclays PLC Acquires 42,297 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Barclays PLC increased its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 375.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,575 shares of the company’s stock after purchasing an additional 42,297 shares during the period. Barclays PLC owned approximately 0.16% of Montrose Environmental Group worth $1,410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MEG. Y Intercept Hong Kong Ltd acquired a new stake in shares of Montrose Environmental Group in the third quarter worth about $214,000. XTX Topco Ltd raised its stake in shares of Montrose Environmental Group by 81.3% in the 3rd quarter. XTX Topco Ltd now owns 15,719 shares of the company’s stock valued at $413,000 after acquiring an additional 7,048 shares in the last quarter. State Street Corp lifted its holdings in Montrose Environmental Group by 0.8% in the 3rd quarter. State Street Corp now owns 679,871 shares of the company’s stock worth $17,881,000 after purchasing an additional 5,687 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Montrose Environmental Group by 58.7% in the third quarter. Stifel Financial Corp now owns 23,521 shares of the company’s stock worth $619,000 after buying an additional 8,703 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Montrose Environmental Group during the 3rd quarter worth $111,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEG has been the subject of several research reports. Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Needham & Company LLC reduced their price target on shares of Montrose Environmental Group from $44.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus dropped their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. 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 research note on Friday, November 8th. Finally, Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research note on Thursday, October 17th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.60.

Montrose Environmental Group Trading Down 1.1 %

Shares of MEG stock opened at $17.45 on Friday. The firm has a fifty day moving average of $20.40 and a 200-day moving average of $28.65. The stock has a market cap of $598.55 million, a price-to-earnings ratio of -11.71 and a beta of 1.71. Montrose Environmental Group, Inc. has a 52-week low of $15.21 and a 52-week high of $49.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

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.