Rockefeller Capital Management L.P. Grows Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Rockefeller Capital Management L.P. boosted its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 176.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,619 shares of the company's stock after buying an additional 82,107 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.37% of Montrose Environmental Group worth $2,386,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in shares of Montrose Environmental Group by 1.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 90,893 shares of the company's stock worth $1,686,000 after purchasing an additional 1,108 shares during the period. Wrapmanager Inc. increased its position in shares of Montrose Environmental Group by 12.8% in 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 in the last quarter. KBC Group NV raised its position in shares of Montrose Environmental Group by 126.5% during the fourth quarter. KBC Group NV now owns 2,888 shares of the company's stock worth $54,000 after purchasing an additional 1,613 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Montrose Environmental Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company's stock valued at $4,926,000 after buying an additional 1,831 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after purchasing an additional 1,898 shares during the period. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Trading Up 4.5 %

NYSE:MEG traded up $0.66 on Thursday, reaching $15.17. 209,768 shares of the stock traded hands, compared to its average volume of 526,090. The firm has a market capitalization of $525.85 million, a price-to-earnings ratio of -10.18 and a beta of 1.81. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $49.97. The company's 50 day moving average is $15.65 and its 200-day moving average is $19.08.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MEG. 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 note on Monday, February 10th. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating for the company in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.40.

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.