Montrose Environmental Group (NYSE:MEG) Director Sells $288,700.00 in Stock

Montrose Environmental Group, Inc. (NYSE:MEG) Director J Thomas Presby sold 10,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $28.87, for a total transaction of $288,700.00. Following the completion of the sale, the director owned 62,614 shares of the company’s stock, valued at approximately $1,807,666.18. The trade was a 13.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Montrose Environmental Group Stock Performance

MEG traded down $1.12 on Wednesday, hitting $27.26. 259,444 shares of the stock traded hands, compared to its average volume of 447,399. The business has a fifty day moving average price of $24.13 and a two-hundred day moving average price of $26.23. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $980.81 million, a PE ratio of 69.22, a P/E/G ratio of 1.72 and a beta of 1.92. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00.

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

Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently modified their holdings of MEG. Advisory Services Network LLC bought a new position in Montrose Environmental Group in the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board increased its stake in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after buying an additional 1,600 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $75,000. Tower Research Capital LLC TRC raised its position in shares of Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Montrose Environmental Group during the fourth quarter valued at $84,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

Montrose Environmental Group Company Profile

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.