Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 6.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,213,897 shares of the company's stock after selling 150,601 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 6.45% of Montrose Environmental Group worth $58,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MEG. Benjamin F. Edwards & Company Inc. grew its stake in shares of Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company's stock worth $86,000 after purchasing an additional 586 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter worth $204,000. Mesirow Financial Investment Management Inc. purchased a new stake in Montrose Environmental Group in the 2nd quarter valued at approximately $310,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Montrose Environmental Group during the third quarter worth $212,000. Finally, Net Worth Advisory Group acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at about $213,000. Hedge funds and other institutional investors own 87.87% of the company's stock.

Analysts Set New Price Targets

MEG has been the subject of a number of research reports. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research report on Thursday, October 17th. Bank of America lowered Montrose Environmental Group from a "buy" rating to a "neutral" rating and cut their target price for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Finally, Needham & Company LLC decreased their price target on shares of Montrose Environmental Group from $54.00 to $44.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Montrose Environmental Group presently has an average rating of "Moderate Buy" and an average target price of $39.20.

Montrose Environmental Group Stock Down 2.9 %

MEG traded down $0.54 during trading hours on Wednesday, reaching $18.16. 495,499 shares of the stock traded hands, compared to its average volume of 414,310. Montrose Environmental Group, Inc. has a fifty-two week low of $16.06 and a fifty-two week high of $49.97. The company has a market cap of $622.91 million, a price-to-earnings ratio of -12.52 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The firm's fifty day simple moving average is $22.96 and its two-hundred day simple moving average is $32.29.

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.