BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes $6.80 Million Position in Montrose Environmental Group, Inc. (NYSE:MEG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 258,599 shares of the company’s stock, valued at approximately $6,801,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.76% of Montrose Environmental Group at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Montrose Environmental Group by 16.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 9,285 shares of the company’s stock valued at $331,000 after purchasing an additional 1,320 shares during the last quarter. Vanguard Group Inc. lifted its position in Montrose Environmental Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company’s stock worth $60,502,000 after acquiring an additional 9,913 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after purchasing an additional 504 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Montrose Environmental Group by 10.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock worth $514,000 after buying an additional 1,211 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Montrose Environmental Group by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 172,741 shares of the company’s stock valued at $6,766,000 after acquiring an additional 7,531 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

NYSE:MEG opened at $17.89 on Monday. 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 company has a 50-day moving average of $24.41 and a 200-day moving average of $33.63. Montrose Environmental Group, Inc. has a 52 week low of $16.06 and a 52 week high of $49.97. The company has a market capitalization of $613.63 million, a price-to-earnings ratio of -12.01 and a beta of 1.86.

Wall Street Analyst Weigh In

MEG has been the topic of a number of research reports. Bank of America lowered shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. Evercore ISI set a $43.00 price objective on shares of Montrose Environmental Group in a research report on Thursday, October 17th. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, 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 research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

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.