Montrose Environmental Group, Inc. (NYSE:MEG) Shares Bought by Bamco Inc. NY

Bamco Inc. NY grew its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 7.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,242,630 shares of the company’s stock after purchasing an additional 86,000 shares during the quarter. Bamco Inc. NY’s holdings in Montrose Environmental Group were worth $32,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MEG. Vanguard Group Inc. lifted its stake in shares of Montrose Environmental Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company’s stock worth $60,502,000 after purchasing an additional 9,913 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Montrose Environmental Group by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock worth $514,000 after acquiring an additional 1,211 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Montrose Environmental Group in the 2nd quarter worth approximately $1,095,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Montrose Environmental Group in the second quarter valued at approximately $310,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC lowered 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 report on Friday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $52.00 to $29.00 in a research note on Wednesday, November 6th. Finally, Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a research note on Thursday, October 17th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $17.94 on Tuesday. Montrose Environmental Group, Inc. has a 1 year low of $16.06 and a 1 year high of $49.97. The firm’s 50-day moving average is $23.37 and its 200-day moving average is $32.71. 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 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.