Wilmington Savings Fund Society FSB Invests $295,000 in Montrose Environmental Group, Inc. (NYSE:MEG)

Wilmington Savings Fund Society FSB bought a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the 3rd quarter, Holdings Channel.com reports. The firm bought 11,220 shares of the company’s stock, valued at approximately $295,000.

Several other institutional investors have also added to or reduced their stakes in MEG. Calamos Advisors LLC bought a new stake in Montrose Environmental Group in the second quarter valued at approximately $1,602,000. Bank of New York Mellon Corp boosted its holdings in Montrose Environmental Group by 271.2% in the second quarter. Bank of New York Mellon Corp now owns 377,997 shares of the company’s stock valued at $16,844,000 after acquiring an additional 276,166 shares during the last quarter. Legato Capital Management LLC boosted its holdings in Montrose Environmental Group by 4.9% in the second quarter. Legato Capital Management LLC now owns 43,761 shares of the company’s stock valued at $1,950,000 after acquiring an additional 2,050 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Montrose Environmental Group by 28.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 44,828 shares of the company’s stock valued at $1,998,000 after acquiring an additional 10,029 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Montrose Environmental Group in the second quarter valued at approximately $1,022,000. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Price Performance

Shares of NYSE:MEG opened at $17.54 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a twelve month low of $15.21 and a twelve month high of $49.97. The stock’s 50 day moving average is $21.55 and its 200-day moving average is $30.12. The firm has a market capitalization of $601.64 million, a price-to-earnings ratio of -11.77 and a beta of 1.71.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC reduced their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Stifel Nicolaus cut their price target on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a report on Thursday, October 17th. Finally, Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Two investment 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.60.

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.