Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 44,710 shares of the company's stock, valued at approximately $829,000. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Montrose Environmental Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MEG. KBC Group NV raised its position in Montrose Environmental Group by 126.5% during the fourth 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 in the last quarter. Avanza Fonder AB acquired a new position in shares of Montrose Environmental Group during the 4th quarter worth $105,000. Point72 DIFC Ltd acquired a new position in shares of Montrose Environmental Group during the 3rd quarter worth $111,000. PNC Financial Services Group Inc. lifted its position in shares of Montrose Environmental Group by 42.5% during the 4th 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 last quarter. Finally, Wrapmanager Inc. boosted its stake in Montrose Environmental Group by 12.8% in the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after buying an additional 1,150 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Trading Down 0.3 %

Shares of MEG stock traded down $0.04 on Tuesday, hitting $15.35. The company had a trading volume of 654,149 shares, compared to its average volume of 497,367. Montrose Environmental Group, Inc. has a twelve month low of $14.28 and a twelve month high of $49.97. 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 firm has a market cap of $527.12 million, a P/E ratio of -10.30 and a beta of 1.72. The stock's 50-day moving average is $19.34 and its two-hundred day moving average is $21.21.

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Analyst Ratings Changes

A number of research firms have recently commented on MEG. Evercore ISI dropped their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Stifel Nicolaus dropped 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 research note on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $39.00 target price on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Montrose Environmental Group presently has an average rating of "Moderate Buy" and a consensus price target of $33.60.

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.