Barclays PLC Purchases 42,297 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Barclays PLC boosted its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 375.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,575 shares of the company's stock after acquiring an additional 42,297 shares during the quarter. Barclays PLC owned 0.16% of Montrose Environmental Group worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MEG. Benjamin F. Edwards & Company Inc. raised its stake in shares of Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company's stock valued at $86,000 after acquiring an additional 586 shares during the last quarter. Point72 DIFC Ltd bought a new position in Montrose Environmental Group during the 3rd quarter valued at approximately $111,000. Los Angeles Capital Management LLC purchased a new stake in Montrose Environmental Group in the 2nd quarter worth approximately $204,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $212,000. Finally, Net Worth Advisory Group bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $213,000. 87.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on MEG shares. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research note on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Needham & Company LLC decreased their price target on shares of Montrose Environmental Group from $44.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Bank of America cut Montrose Environmental Group from a "buy" rating to a "neutral" rating and cut their price objective for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Montrose Environmental Group Trading Up 4.1 %

Shares of NYSE MEG opened at $21.65 on Monday. Montrose Environmental Group, Inc. has a 1 year low of $15.21 and a 1 year high of $49.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a 50-day moving average of $18.99 and a 200 day moving average of $26.59. The stock has a market cap of $742.62 million, a P/E ratio of -14.53 and a beta of 1.70.

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.