Blair William & Co. IL Trims Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Blair William & Co. IL lowered its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 13.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 646,612 shares of the company’s stock after selling 104,076 shares during the quarter. Blair William & Co. IL’s holdings in Montrose Environmental Group were worth $11,995,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Summit Creek Advisors LLC boosted its position in Montrose Environmental Group by 49.4% in the fourth quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company’s stock valued at $10,716,000 after buying an additional 190,992 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Montrose Environmental Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,802,551 shares of the company’s stock valued at $33,437,000 after acquiring an additional 11,211 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Montrose Environmental Group during the fourth quarter worth $130,000. Quantbot Technologies LP acquired a new position in Montrose Environmental Group during the fourth quarter valued at $384,000. Finally, William Blair Investment Management LLC boosted its holdings in Montrose Environmental Group by 175.0% in the fourth quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock valued at $27,255,000 after purchasing an additional 934,938 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

NYSE:MEG opened at $14.45 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 52 week low of $14.28 and a 52 week high of $49.97. The stock’s 50-day moving average price is $18.76 and its 200-day moving average price is $20.94. The stock has a market capitalization of $500.76 million, a PE ratio of -9.70 and a beta of 1.72.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore ISI reduced their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Stifel Nicolaus decreased their price target on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

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.