20,676 Shares in Montrose Environmental Group, Inc. (NYSE:MEG) Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,676 shares of the company’s stock, valued at approximately $384,000. Quantbot Technologies LP owned 0.06% of Montrose Environmental Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MEG. Fred Alger Management LLC raised its stake in Montrose Environmental Group by 33.7% in the third quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock worth $49,086,000 after buying an additional 470,706 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Montrose Environmental Group by 175.0% in the 4th quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock valued at $27,255,000 after acquiring an additional 934,938 shares during the period. Bamco Inc. NY raised its position in shares of Montrose Environmental Group by 7.4% in the 3rd quarter. Bamco Inc. NY now owns 1,242,630 shares of the company’s stock worth $32,681,000 after acquiring an additional 86,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Montrose Environmental Group by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 716,558 shares of the company’s stock worth $18,850,000 after purchasing an additional 23,356 shares during the last quarter. Finally, State Street Corp boosted its position in Montrose Environmental Group by 0.8% during the third quarter. State Street Corp now owns 679,871 shares of the company’s stock valued at $17,881,000 after purchasing an additional 5,687 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MEG. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Evercore ISI cut their price objective on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Montrose Environmental Group has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Stock Performance

MEG opened at $14.45 on Friday. The company has a market cap of $500.76 million, a P/E ratio of -9.70 and a beta of 1.72. 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 firm’s 50-day moving average price is $18.76 and its 200-day moving average price is $20.94. Montrose Environmental Group, Inc. has a 52-week low of $14.28 and a 52-week high of $49.97.

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.