Wrapmanager Inc. Raises Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Wrapmanager Inc. lifted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,105 shares of the company’s stock after buying an additional 1,150 shares during the quarter. Wrapmanager Inc.’s holdings in Montrose Environmental Group were worth $187,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Royce & Associates LP lifted its holdings in Montrose Environmental Group by 43.3% in the third quarter. Royce & Associates LP now owns 345,069 shares of the company’s stock valued at $9,075,000 after acquiring an additional 104,320 shares during the period. FMR LLC lifted its stake in shares of Montrose Environmental Group by 11.1% in the third quarter. FMR LLC now owns 352,264 shares of the company’s stock valued at $9,265,000 after purchasing an additional 35,314 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at about $6,801,000. Rockefeller Capital Management L.P. boosted its holdings in Montrose Environmental Group by 189.3% during the third quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock worth $1,223,000 after buying an additional 30,437 shares in the last quarter. Finally, Barclays PLC grew its position in Montrose Environmental Group by 375.0% during the third quarter. Barclays PLC now owns 53,575 shares of the company’s stock worth $1,410,000 after buying an additional 42,297 shares during the period. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Price Performance

Shares of NYSE:MEG opened at $17.37 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The business’s fifty day moving average price is $19.83 and its two-hundred day moving average price is $23.24. The stock has a market cap of $595.81 million, a PE ratio of -11.66 and a beta of 1.71. Montrose Environmental Group, Inc. has a one year low of $15.21 and a one year high of $49.97.

Analyst Upgrades and Downgrades

MEG has been the subject of a number of research reports. Evercore ISI reduced their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Stifel Nicolaus reduced their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

About Montrose Environmental Group

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.