Arizona State Retirement System Purchases 782 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Arizona State Retirement System lifted its stake in Montrose Environmental Group, Inc. (NYSE:MEGGet Rating) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,776 shares of the company’s stock after buying an additional 782 shares during the period. Arizona State Retirement System’s holdings in Montrose Environmental Group were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MEG. Point72 Hong Kong Ltd bought a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $26,000. Atticus Wealth Management LLC lifted its stake in shares of Montrose Environmental Group by 42.9% in the first quarter. Atticus Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $53,000 after buying an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $199,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $222,000. Finally, Diversified Trust Co bought a new stake in shares of Montrose Environmental Group in the first quarter valued at about $280,000. Institutional investors own 96.51% of the company’s stock.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $40.91 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a market cap of $1.21 billion, a P/E ratio of -30.08 and a beta of 1.53. The firm has a 50 day simple moving average of $36.02 and a 200 day simple moving average of $43.07. Montrose Environmental Group, Inc. has a fifty-two week low of $28.36 and a fifty-two week high of $80.42.

Montrose Environmental Group (NYSE:MEGGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.36). The company had revenue of $134.68 million during the quarter, compared to analyst estimates of $133.45 million. Montrose Environmental Group had a negative net margin of 3.89% and a negative return on equity of 1.47%. Sell-side analysts predict that Montrose Environmental Group, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Montrose Environmental Group

In other Montrose Environmental Group news, Director James K. Price acquired 11,807 shares of Montrose Environmental Group stock in a transaction on Tuesday, May 17th. The shares were purchased at an average cost of $42.35 per share, with a total value of $500,026.45. Following the completion of the purchase, the director now owns 1,031,370 shares in the company, valued at $43,678,519.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director James K. Price purchased 11,807 shares of Montrose Environmental Group stock in a transaction dated Tuesday, May 17th. The shares were bought at an average cost of $42.35 per share, with a total value of $500,026.45. Following the completion of the transaction, the director now directly owns 1,031,370 shares in the company, valued at approximately $43,678,519.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James K. Price acquired 13,340 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $37.47 per share, for a total transaction of $499,849.80. Following the completion of the acquisition, the director now owns 1,019,563 shares of the company’s stock, valued at $38,203,025.61. The disclosure for this purchase can be found here. Insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MEG. JPMorgan Chase & Co. raised shares of Montrose Environmental Group from a “neutral” rating to an “overweight” rating and set a $47.00 price target for the company in a research report on Wednesday, May 11th. TheStreet lowered shares of Montrose Environmental Group from a “c-” rating to a “d” rating in a research report on Friday, June 24th. Finally, Morgan Stanley dropped their price objective on shares of Montrose Environmental Group from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.21.

Montrose Environmental Group Profile

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Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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.

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Institutional Ownership by Quarter for Montrose Environmental Group (NYSE:MEG)

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