Stephens Investment Management Group LLC Purchases 7,782 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Stephens Investment Management Group LLC increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 472,627 shares of the company’s stock after acquiring an additional 7,782 shares during the quarter. Stephens Investment Management Group LLC owned about 1.38% of Montrose Environmental Group worth $8,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MEG. Fred Alger Management LLC grew its holdings in Montrose Environmental Group by 33.7% in the third quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock worth $49,086,000 after purchasing an additional 470,706 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Montrose Environmental Group during the 3rd quarter worth $6,801,000. Royce & Associates LP increased its position in Montrose Environmental Group by 43.3% during the 3rd quarter. Royce & Associates LP now owns 345,069 shares of the company’s stock valued at $9,075,000 after buying an additional 104,320 shares in the last quarter. Bamco Inc. NY raised its stake in Montrose Environmental Group by 7.4% in the third quarter. Bamco Inc. NY now owns 1,242,630 shares of the company’s stock valued at $32,681,000 after buying an additional 86,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Montrose Environmental Group by 969.4% in the second quarter. Millennium Management LLC now owns 86,287 shares of the company’s stock worth $3,845,000 after acquiring an additional 78,218 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MEG. Evercore ISI set a $43.00 price objective on shares of Montrose Environmental Group in a report on Thursday, October 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Bank of America lowered shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. Stifel Nicolaus reduced their target price on 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $39.00 price target on shares of Montrose Environmental Group in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.60.

Montrose Environmental Group Stock Up 0.9 %

NYSE:MEG opened at $21.16 on Monday. 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 company’s fifty day moving average price is $19.50 and its 200-day moving average price is $24.24. Montrose Environmental Group, Inc. has a 1-year low of $15.21 and a 1-year high of $49.97. The firm has a market capitalization of $725.79 million, a P/E ratio of -14.20 and a beta of 1.71.

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.