Radnor Capital Management LLC Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Radnor Capital Management LLC bought a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,438 shares of the company's stock, valued at approximately $801,000. Radnor Capital Management LLC owned 0.09% of Montrose Environmental Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in Montrose Environmental Group by 43.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company's stock worth $86,000 after acquiring an additional 586 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Montrose Environmental Group during the 2nd quarter worth approximately $204,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company's stock valued at $187,000 after purchasing an additional 504 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Montrose Environmental Group during the first quarter worth about $271,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Montrose Environmental Group in the 2nd quarter valued at approximately $310,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America cut Montrose Environmental Group from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $52.00 to $29.00 in a report on Wednesday. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research report on Thursday, October 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of Montrose Environmental Group in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Montrose Environmental Group has an average rating of "Moderate Buy" and a consensus target price of $42.83.

Montrose Environmental Group Trading Down 3.2 %

Shares of Montrose Environmental Group stock traded down $0.77 on Thursday, hitting $23.62. 390,133 shares of the company's stock traded hands, compared to its average volume of 383,218. Montrose Environmental Group, Inc. has a one year low of $19.59 and a one year high of $49.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. The company has a fifty day moving average of $26.88 and a two-hundred day moving average of $35.66. The company has a market capitalization of $808.51 million, a price-to-earnings ratio of -16.37 and a beta of 1.86.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.15). The firm had revenue of $173.33 million during the quarter, compared to the consensus estimate of $174.59 million. Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. As a group, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current year.

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.