Fmr LLC Raises Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

FMR LLC grew its position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 352,264 shares of the company's stock after acquiring an additional 35,314 shares during the period. FMR LLC owned about 1.03% of Montrose Environmental Group worth $9,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MEG. Royce & Associates LP lifted its holdings in Montrose Environmental Group by 43.3% in the third quarter. Royce & Associates LP now owns 345,069 shares of the company's stock valued at $9,075,000 after acquiring an additional 104,320 shares during the period. Ghisallo Capital Management LLC purchased a new stake in shares of Montrose Environmental Group in the 2nd quarter worth about $3,119,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Montrose Environmental Group in the 3rd quarter valued at about $6,801,000. Driehaus Capital Management LLC increased its holdings in Montrose Environmental Group by 253.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company's stock valued at $51,210,000 after acquiring an additional 823,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Montrose Environmental Group by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 508,414 shares of the company's stock worth $22,657,000 after acquiring an additional 38,701 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Montrose Environmental Group Trading Up 3.2 %

Montrose Environmental Group stock traded up $0.50 during trading on Thursday, hitting $16.12. The company's stock had a trading volume of 745,489 shares, compared to its average volume of 420,974. The stock's fifty day moving average is $21.91 and its 200 day moving average is $31.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. Montrose Environmental Group, Inc. has a 1-year low of $15.21 and a 1-year high of $49.97. The stock has a market capitalization of $552.93 million, a price-to-earnings ratio of -10.66 and a beta of 1.71.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MEG. Stifel Nicolaus lowered their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a research report on Thursday, October 17th. Bank of America cut Montrose Environmental Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reaffirmed 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.60.

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.