Wrapmanager Inc. Increases Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Wrapmanager Inc. grew its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 12.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,105 shares of the company’s stock after acquiring an additional 1,150 shares during the quarter. Wrapmanager Inc.’s holdings in Montrose Environmental Group were worth $187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Natixis Advisors LLC grew its holdings in shares of Montrose Environmental Group by 6.9% during the third quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock worth $549,000 after purchasing an additional 1,351 shares during the last quarter. KBC Group NV lifted its holdings in shares of Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after purchasing an additional 1,613 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Montrose Environmental Group by 1.8% in the 4th quarter. Peregrine Capital Management LLC now owns 231,393 shares of the company’s stock valued at $4,292,000 after purchasing an additional 4,111 shares during the period. Point72 DIFC Ltd purchased a new position in Montrose Environmental Group during the 3rd quarter worth approximately $111,000. Finally, M&T Bank Corp increased its position in Montrose Environmental Group by 19.5% during the third quarter. M&T Bank Corp now owns 27,567 shares of the company’s stock worth $725,000 after buying an additional 4,494 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

MEG has been the subject of several research analyst reports. Evercore ISI decreased their price objective 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. 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. 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 research note on Wednesday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $39.00 price target on shares of Montrose Environmental Group in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Montrose Environmental Group Stock Performance

NYSE:MEG opened at $17.37 on Wednesday. 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 has a market cap of $595.81 million, a price-to-earnings ratio of -11.66 and a beta of 1.71. The firm’s fifty day moving average price is $19.83 and its 200 day moving average price is $23.24. Montrose Environmental Group, Inc. has a 1-year low of $15.21 and a 1-year high of $49.97.

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.