New York State Common Retirement Fund Boosts Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

New York State Common Retirement Fund grew its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 54.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,009 shares of the company's stock after purchasing an additional 22,621 shares during the quarter. New York State Common Retirement Fund owned about 0.19% of Montrose Environmental Group worth $1,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MEG. KBC Group NV raised its stake in 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 buying an additional 1,613 shares during the last quarter. Avanza Fonder AB acquired a new stake in Montrose Environmental Group during the 4th quarter worth about $105,000. Point72 DIFC Ltd bought a new position in shares of Montrose Environmental Group in the 3rd quarter worth about $111,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $212,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at about $214,000. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Stock Down 6.4 %

Shares of NYSE MEG traded down $1.27 during mid-day trading on Thursday, reaching $18.64. 126,140 shares of the company's stock traded hands, compared to its average volume of 483,422. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick 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 cap of $639.20 million, a P/E ratio of -12.51 and a beta of 1.71. The business has a 50-day simple moving average of $20.18 and a 200 day simple moving average of $22.76.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their target price on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Bank of America downgraded shares of Montrose Environmental Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Needham & Company LLC reissued a "buy" rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research report on Tuesday. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.60.

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.