Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Blair William & Co. IL

Blair William & Co. IL trimmed its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 646,612 shares of the company's stock after selling 104,076 shares during the quarter. Blair William & Co. IL owned 1.89% of Montrose Environmental Group worth $11,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MEG. KBC Group NV grew its holdings in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after purchasing an additional 1,613 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $105,000. Point72 DIFC Ltd purchased a new stake in shares of Montrose Environmental Group in the third quarter worth approximately $111,000. PNC Financial Services Group Inc. raised its holdings in shares of Montrose Environmental Group by 42.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after buying an additional 1,898 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Montrose Environmental Group during the 4th quarter worth approximately $130,000. Institutional investors own 87.87% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MEG shares. Evercore ISI reduced their target price on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus decreased their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $39.00 price objective on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Montrose Environmental Group currently has a consensus rating of "Moderate Buy" and an average target price of $33.60.

Montrose Environmental Group Stock Up 0.6 %

Shares of MEG traded up $0.08 during midday trading on Wednesday, hitting $13.69. 366,390 shares of the company's stock traded hands, compared to its average volume of 510,317. Montrose Environmental Group, Inc. has a 1 year low of $13.40 and a 1 year high of $49.97. The firm's fifty day moving average is $18.39 and its 200-day moving average is $20.64. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $474.55 million, a price-to-earnings ratio of -9.19 and a beta of 1.81.

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.