Royce & Associates LP Sells 158,850 Shares of Montrose Environmental Group, Inc. $MEG

Royce & Associates LP cut its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 15.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 875,499 shares of the company’s stock after selling 158,850 shares during the period. Royce & Associates LP’s holdings in Montrose Environmental Group were worth $24,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MEG. Canada Pension Plan Investment Board lifted its holdings 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 acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 purchasing an additional 1,508 shares during the last quarter. CWM LLC boosted its holdings in shares of Montrose Environmental Group by 1,015.3% in the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock worth $99,000 after purchasing an additional 4,102 shares in the last quarter. AlphaQuest LLC increased its position in shares of Montrose Environmental Group by 17.4% during the 2nd quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock valued at $105,000 after purchasing an additional 713 shares during the last quarter. Finally, 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 last quarter. Institutional investors own 87.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

Montrose Environmental Group Stock Performance

Shares of MEG stock opened at $29.22 on Monday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -121.73, a PEG ratio of 2.06 and a beta of 2.02. The stock has a fifty day moving average of $24.03 and a 200 day moving average of $26.23. Montrose Environmental Group, Inc. 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.

Montrose Environmental Group (NYSE:MEG) last posted its earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The firm had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. During the same period last year, the company posted ($0.90) EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Montrose Environmental Group, Inc. 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.