Chartwell Investment Partners LLC Acquires 5,861 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Chartwell Investment Partners LLC raised its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 33.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,351 shares of the company’s stock after purchasing an additional 5,861 shares during the period. Chartwell Investment Partners LLC owned 0.07% of Montrose Environmental Group worth $614,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its stake in Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after purchasing an additional 586 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Montrose Environmental Group by 11.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Montrose Environmental Group during the second quarter valued at approximately $204,000. Net Worth Advisory Group bought a new stake in shares of Montrose Environmental Group during the third quarter valued at approximately $213,000. Finally, Bayesian Capital Management LP purchased a new position in Montrose Environmental Group in the 1st quarter worth approximately $271,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Needham & Company LLC cut their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Finally, Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a report 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Montrose Environmental Group Stock Up 0.2 %

Montrose Environmental Group stock opened at $22.00 on Thursday. Montrose Environmental Group, Inc. has a one year low of $19.59 and a one year high of $49.97. The stock has a fifty day moving average of $25.83 and a 200 day moving average of $34.99. 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 stock has a market cap of $754.60 million, a PE ratio of -14.77 and a beta of 1.86.

Montrose Environmental Group Company 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.