Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 175.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,469,280 shares of the company's stock after purchasing an additional 934,938 shares during the period. William Blair Investment Management LLC owned about 4.28% of Montrose Environmental Group worth $27,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Fred Alger Management LLC lifted its stake in shares of Montrose Environmental Group by 33.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company's stock valued at $49,086,000 after purchasing an additional 470,706 shares during the period. Bamco Inc. NY raised its position in Montrose Environmental Group by 7.4% during the third quarter. Bamco Inc. NY now owns 1,242,630 shares of the company's stock worth $32,681,000 after acquiring an additional 86,000 shares during the period. Geode Capital Management LLC raised its position in Montrose Environmental Group by 3.4% during the third quarter. Geode Capital Management LLC now owns 716,558 shares of the company's stock worth $18,850,000 after acquiring an additional 23,356 shares during the period. State Street Corp raised its position in Montrose Environmental Group by 0.8% during the third quarter. State Street Corp now owns 679,871 shares of the company's stock worth $17,881,000 after acquiring an additional 5,687 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Montrose Environmental Group by 50.6% during the fourth quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company's stock worth $8,944,000 after acquiring an additional 161,957 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.

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Montrose Environmental Group Price Performance

Shares of Montrose Environmental Group stock traded down $0.28 during trading hours on Friday, reaching $14.59. 1,819,579 shares of the company's stock were exchanged, compared to its average volume of 496,134. 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 1 year low of $14.28 and a 1 year high of $49.97. The business has a fifty day moving average of $19.46 and a two-hundred day moving average of $21.46. The company has a market capitalization of $501.02 million, a P/E ratio of -9.79 and a beta of 1.72.

Wall Street Analysts Forecast Growth

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

Montrose Environmental Group 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.