Rockefeller Capital Management L.P. Acquires 5,625 Shares of Montrose Environmental Group, Inc. $MEG

Rockefeller Capital Management L.P. grew its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,589 shares of the company’s stock after purchasing an additional 5,625 shares during the period. Rockefeller Capital Management L.P. owned about 0.37% of Montrose Environmental Group worth $2,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Montrose Environmental Group by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock worth $33,913,000 after buying an additional 97,035 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Montrose Environmental Group by 21.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company’s stock valued at $50,734,000 after acquiring an additional 414,272 shares during the period. Millennium Management LLC lifted its position in shares of Montrose Environmental Group by 4.4% during the 1st quarter. Millennium Management LLC now owns 1,504,541 shares of the company’s stock valued at $21,455,000 after acquiring an additional 62,826 shares during the period. Royce & Associates LP grew its holdings in shares of Montrose Environmental Group by 167.5% during the 1st quarter. Royce & Associates LP now owns 852,849 shares of the company’s stock worth $12,162,000 after purchasing an additional 533,986 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Montrose Environmental Group by 3.7% in the second quarter. Geode Capital Management LLC now owns 765,027 shares of the company’s stock worth $16,748,000 after purchasing an additional 27,316 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total value of $1,082,764.88. Following the completion of the sale, the chief executive officer owned 316,637 shares of the company’s stock, valued at approximately $7,621,452.59. This trade represents a 12.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.90% of the company’s stock.

Montrose Environmental Group Trading Up 3.4%

NYSE MEG opened at $25.22 on Friday. The firm has a market capitalization of $891.38 million, a PE ratio of -27.72, a price-to-earnings-growth ratio of 2.80 and a beta of 1.84. The business’s 50-day moving average price is $27.18 and its two-hundred day moving average price is $24.79. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70. Montrose Environmental Group, Inc. has a 12 month low of $10.51 and a 12 month high of $32.00.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. Montrose Environmental Group has set its FY 2025 guidance at EPS. On average, analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

MEG has been the subject of several analyst reports. Zacks Research cut shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC upped their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Barclays lifted their price target 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Four 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 stock presently has an average rating of “Hold” and an average price target of $34.40.

About Montrose Environmental Group

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.