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

Rockefeller Capital Management L.P. increased its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 189.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,512 shares of the company's stock after acquiring an additional 30,437 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.14% of Montrose Environmental Group worth $1,223,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its holdings in Montrose Environmental Group by 43.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company's stock valued at $86,000 after buying an additional 586 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Montrose Environmental Group in the second quarter valued at $204,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Montrose Environmental Group in the third quarter valued at $212,000. Net Worth Advisory Group purchased a new position in Montrose Environmental Group in the third quarter valued at $213,000. Finally, Wrapmanager Inc. increased its holdings in Montrose Environmental Group by 18.8% in the third quarter. Wrapmanager Inc. now owns 8,955 shares of the company's stock valued at $236,000 after buying an additional 1,420 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Performance

Shares of MEG stock traded up $0.23 during mid-day trading on Monday, hitting $17.20. 547,223 shares of the stock were exchanged, compared to its average volume of 417,256. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. Montrose Environmental Group, Inc. has a 12-month low of $16.06 and a 12-month high of $49.97. The stock's fifty day simple moving average is $22.34 and its two-hundred day simple moving average is $31.63.

Analysts Set New Price Targets

Several equities analysts recently commented on MEG shares. Needham & Company LLC dropped their target price on Montrose Environmental Group from $54.00 to $44.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a report on Thursday, October 17th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Finally, Bank of America lowered Montrose Environmental Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group currently has an average rating of "Moderate Buy" and an average target price of $39.20.

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.