Legato Capital Management LLC Has $1.58 Million Holdings in Montrose Environmental Group, Inc. $MEG

Legato Capital Management LLC lifted its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 78.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,473 shares of the company’s stock after purchasing an additional 25,300 shares during the quarter. Legato Capital Management LLC owned 0.16% of Montrose Environmental Group worth $1,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Montrose Environmental Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after buying an additional 780 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Montrose Environmental Group by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock worth $4,663,000 after acquiring an additional 92,671 shares during the period. AlphaQuest LLC boosted its position in shares of Montrose Environmental Group by 17.4% during the 2nd quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock valued at $105,000 after acquiring an additional 713 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Montrose Environmental Group during the 2nd quarter valued at about $266,000. Finally, Summit Creek Advisors LLC increased its stake in Montrose Environmental Group by 7.2% in the second quarter. Summit Creek Advisors LLC now owns 626,560 shares of the company’s stock valued at $13,715,000 after acquiring an additional 42,046 shares during the period. 87.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on MEG shares. Needham & Company LLC raised their price target on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Barclays raised their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Montrose Environmental Group currently has an average rating of “Hold” and a consensus target price of $34.67.

Montrose Environmental Group Stock Down 2.2%

NYSE MEG opened at $28.58 on Tuesday. The stock’s 50 day simple moving average is $24.08 and its 200 day simple moving average is $26.23. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The firm has a market cap of $1.01 billion, a PE ratio of -119.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.43 and a quick ratio of 1.43.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The company had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. During the same quarter in the previous year, the firm earned ($0.90) earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.