Principal Financial Group Inc. Purchases 66,543 Shares of Montrose Environmental Group, Inc. $ONT

Principal Financial Group Inc. raised its position in shares of Montrose Environmental Group, Inc. (NYSE:ONT) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,346,257 shares of the company’s stock after purchasing an additional 66,543 shares during the period. Principal Financial Group Inc. owned approximately 3.72% of Montrose Environmental Group worth $29,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Montrose Environmental Group in the 3rd quarter valued at $32,000. Canada Pension Plan Investment Board lifted its position in shares of Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after buying an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after buying an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Montrose Environmental Group in the fourth quarter valued at about $75,000. Finally, Assetmark Inc. bought a new position in Montrose Environmental Group in the fourth quarter valued at about $84,000. 87.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ONT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. JPMorgan Chase & Co. dropped their target price on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Barclays reduced their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Zacks Research upgraded shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.00.

Montrose Environmental Group Price Performance

Shares of ONT opened at $20.93 on Monday. The company has a market capitalization of $756.41 million, a PE ratio of 418.68, a PEG ratio of 1.53 and a beta of 1.67. Montrose Environmental Group, Inc. has a 12 month low of $14.13 and a 12 month high of $32.00. The stock’s 50-day moving average price is $17.84 and its two-hundred day moving average price is $21.31. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76.

Insider Transactions at Montrose Environmental Group

In related news, Director Peter Graham acquired 25,140 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $17.19 per share, with a total value of $432,156.60. Following the completion of the purchase, the director directly owned 256,689 shares in the company, valued at $4,412,483.91. The trade was a 10.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Allan Dicks bought 6,535 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $15.36 per share, with a total value of $100,377.60. Following the transaction, the chief financial officer directly owned 218,178 shares in the company, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 36,535 shares of company stock valued at $610,003 over the last 90 days. 10.40% of the stock is owned by corporate insiders.

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.