Fisher Asset Management LLC Buys 107,880 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Fisher Asset Management LLC lifted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 62.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 280,409 shares of the company's stock after acquiring an additional 107,880 shares during the quarter. Fisher Asset Management LLC owned 0.82% of Montrose Environmental Group worth $5,202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MEG. Wrapmanager Inc. raised its holdings in Montrose Environmental Group by 12.8% during the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after buying an additional 1,150 shares during the last quarter. Natixis Advisors LLC raised its holdings in Montrose Environmental Group by 6.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company's stock valued at $549,000 after buying an additional 1,351 shares during the last quarter. KBC Group NV raised 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 buying an additional 1,613 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in Montrose Environmental Group by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 231,393 shares of the company's stock valued at $4,292,000 after buying an additional 4,111 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Montrose Environmental Group during the 3rd quarter valued at $111,000. 87.87% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Needham & Company LLC reiterated a "buy" rating and set a $39.00 price target on shares of Montrose Environmental Group in a report on Tuesday. Evercore ISI decreased their price objective 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.60.

Montrose Environmental Group Stock Down 4.0 %

Shares of NYSE:MEG traded down $0.72 during midday trading on Friday, reaching $17.23. The company's stock had a trading volume of 594,908 shares, compared to its average volume of 494,168. The firm has a 50 day moving average of $20.18 and a 200-day moving average of $22.73. The firm has a market capitalization of $590.87 million, a P/E ratio of -11.56 and a beta of 1.71. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 12-month low of $15.21 and a 12-month high of $49.97.

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.