Fox Run Management L.L.C. Buys New Shares in Montrose Environmental Group, Inc. $MEG

Fox Run Management L.L.C. purchased a new position in Montrose Environmental Group, Inc. (NYSE:MEG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,937 shares of the company’s stock, valued at approximately $575,000. Fox Run Management L.L.C. owned about 0.06% of Montrose Environmental Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in shares of Montrose Environmental Group by 3,407.7% in the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after buying an additional 1,246,199 shares during the period. Marshall Wace LLP raised its holdings in Montrose Environmental Group by 245.0% in the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after acquiring an additional 272,444 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Montrose Environmental Group by 12.9% in the 2nd quarter. Legal & General Group Plc now owns 904,154 shares of the company’s stock worth $19,792,000 after acquiring an additional 103,460 shares during the period. Lisanti Capital Growth LLC bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $2,803,000. Finally, CenterBook Partners LP acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter worth approximately $2,587,000. Institutional investors own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MEG shares. Barclays upped their target price 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. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Needham & Company LLC increased their price objective 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. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Hold” and an average price target of $34.67.

Montrose Environmental Group Price Performance

Shares of MEG stock opened at $29.22 on Friday. The stock’s fifty day simple moving average is $24.03 and its 200 day simple moving average is $26.24. 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 $1.03 billion, a price-to-earnings ratio of -121.73, a P/E/G ratio of 2.06 and a beta of 2.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66.

Montrose Environmental Group (NYSE:MEG) last issued 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. Montrose Environmental Group had a positive return on equity of 4.45% and a negative net margin of 0.10%.The company had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. During the same period last year, the business earned ($0.90) earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Montrose Environmental Group 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.