Premier Fund Managers Ltd Sells 8,184 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Premier Fund Managers Ltd lowered its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 60.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,290 shares of the company’s stock after selling 8,184 shares during the period. Premier Fund Managers Ltd’s holdings in Montrose Environmental Group were worth $101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV grew its holdings in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after acquiring an additional 1,613 shares during the last quarter. Avanza Fonder AB bought a new position in Montrose Environmental Group in the 4th quarter worth approximately $105,000. Point72 DIFC Ltd acquired a new position in Montrose Environmental Group during the 3rd quarter worth $111,000. PNC Financial Services Group Inc. boosted its position in Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock valued at $118,000 after buying an additional 1,898 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $130,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MEG. Evercore ISI decreased their price target on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Stifel Nicolaus reduced their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Price Performance

MEG opened at $14.45 on Friday. Montrose Environmental Group, Inc. has a 12 month low of $14.28 and a 12 month high of $49.97. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock has a market cap of $500.76 million, a P/E ratio of -9.70 and a beta of 1.72. The company has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $20.94.

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.