Candriam S.C.A. Lowers Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Candriam S.C.A. lowered its position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 49.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,399 shares of the company's stock after selling 99,907 shares during the quarter. Candriam S.C.A. owned 0.30% of Montrose Environmental Group worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV increased its position 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 purchasing an additional 1,613 shares during the period. Avanza Fonder AB acquired a new stake in Montrose Environmental Group during the 4th quarter valued at approximately $105,000. Point72 DIFC Ltd acquired a new stake in Montrose Environmental Group during the 3rd quarter valued at approximately $111,000. Wrapmanager Inc. increased its position 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 purchasing an additional 1,150 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Montrose Environmental Group during the 3rd quarter valued at approximately $212,000. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Trading Down 3.8 %

Shares of MEG stock traded down $0.67 during trading hours on Thursday, hitting $16.89. 435,264 shares of the company were exchanged, compared to its average volume of 500,635. The firm has a market cap of $579.90 million, a P/E ratio of -11.33 and a beta of 1.72. Montrose Environmental Group, Inc. has a fifty-two week low of $15.21 and a fifty-two week 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 company has a 50 day simple moving average of $20.09 and a two-hundred day simple moving average of $22.22.

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Analysts Set New Price Targets

MEG has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Evercore ISI decreased 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 research report on Monday, February 10th. Finally, Stifel Nicolaus decreased 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.60.

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.