Montrose Environmental Group, Inc. (NYSE:MEG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $34.6667.

Several analysts have weighed in on the company. Wall Street Zen downgraded Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Needham & Company LLC increased their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th.

Insider Activity at Montrose Environmental Group

In related news, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total value of $1,229,782.76. Following the completion of the sale, the general counsel owned 204,878 shares of the company’s stock, valued at $5,812,388.86. This represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the transaction, the chief executive officer owned 236,788 shares of the company’s stock, valued at $6,016,783.08. This represents a 16.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 107,527 shares of company stock worth $2,908,583. 11.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 purchasing an additional 780 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Montrose Environmental Group by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after purchasing an additional 92,671 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Montrose Environmental Group by 13.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company’s stock valued at $139,000 after purchasing an additional 730 shares during the period. Geode Capital Management LLC raised its stake in shares of Montrose Environmental Group by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 765,027 shares of the company’s stock worth $16,748,000 after buying an additional 27,316 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Montrose Environmental Group by 26.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,108 shares of the company’s stock valued at $177,000 after buying an additional 1,716 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Trading Down 2.0%

Montrose Environmental Group stock opened at $22.34 on Friday. Montrose Environmental Group has a 52-week low of $10.51 and a 52-week high of $32.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $808.18 million, a price-to-earnings ratio of -93.10, a PEG ratio of 1.66 and a beta of 1.92. The firm has a 50-day moving average price of $23.80 and a two-hundred day moving average price of $25.69.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. Montrose Environmental Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.90) earnings per share. Sell-side analysts expect that Montrose Environmental Group will post 0.13 earnings per share for the current year.

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.