Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 49.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,399 shares of the company’s stock after selling 99,907 shares during the quarter. Candriam S.C.A. owned about 0.30% of Montrose Environmental Group worth $1,900,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MEG. M&T Bank Corp grew its stake in shares of Montrose Environmental Group by 40.9% in the 4th quarter. M&T Bank Corp now owns 38,831 shares of the company’s stock worth $721,000 after purchasing an additional 11,264 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Montrose Environmental Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company’s stock worth $4,926,000 after purchasing an additional 1,831 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Montrose Environmental Group by 62.5% in the fourth quarter. Fisher Asset Management LLC now owns 280,409 shares of the company’s stock worth $5,202,000 after acquiring an additional 107,880 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Montrose Environmental Group by 50.6% in the fourth quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after acquiring an additional 161,957 shares in the last quarter. Finally, Wrapmanager Inc. increased its position in shares of Montrose Environmental Group by 12.8% in the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock worth $187,000 after acquiring an additional 1,150 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Evercore ISI lowered 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 target price 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Montrose Environmental Group presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Stock Down 4.0 %

Shares of NYSE MEG opened at $17.23 on Monday. The firm has a market capitalization of $591.54 million, a PE ratio of -11.56 and a beta of 1.72. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 1 year low of $15.21 and a 1 year high of $49.97. The firm’s 50-day moving average is $20.18 and its 200-day moving average is $22.46.

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.