Swiss National Bank Buys 1,000 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Swiss National Bank grew its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,300 shares of the company’s stock after buying an additional 1,000 shares during the period. Swiss National Bank owned 0.19% of Montrose Environmental Group worth $2,544,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MEG. Captrust Financial Advisors purchased a new stake in Montrose Environmental Group in the first quarter worth $29,000. VitalStone Financial LLC purchased a new position in shares of Montrose Environmental Group during the 4th quarter valued at about $53,000. Point72 Hong Kong Ltd purchased a new position in shares of Montrose Environmental Group during the 2nd quarter valued at about $57,000. Tower Research Capital LLC TRC lifted its position in shares of Montrose Environmental Group by 38.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,362 shares of the company’s stock valued at $79,000 after buying an additional 657 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Montrose Environmental Group during the 3rd quarter valued at about $99,000. 90.89% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Up 0.7 %

Shares of MEG stock opened at $36.56 on Thursday. The stock’s 50-day simple moving average is $33.23 and its 200-day simple moving average is $41.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.26 and a current ratio of 2.26. The firm has a market capitalization of $1.10 billion, a PE ratio of -19.66 and a beta of 1.61. Montrose Environmental Group, Inc. has a fifty-two week low of $28.36 and a fifty-two week high of $55.00.

Montrose Environmental Group (NYSE:MEG – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.26). The company had revenue of $139.51 million during the quarter, compared to analysts’ expectations of $140.97 million. Montrose Environmental Group had a negative return on equity of 11.73% and a negative net margin of 7.21%. Equities analysts expect that Montrose Environmental Group, Inc. will post -1.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director J Thomas Presby bought 5,000 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were acquired at an average price of $36.16 per share, for a total transaction of $180,800.00. Following the completion of the transaction, the director now directly owns 43,832 shares in the company, valued at approximately $1,584,965.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Janet Risi Field purchased 1,000 shares of the stock in a transaction dated Friday, May 12th. The stock was acquired at an average cost of $36.05 per share, for a total transaction of $36,050.00. Following the completion of the transaction, the director now directly owns 14,006 shares in the company, valued at approximately $504,916.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J Thomas Presby bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was bought at an average price of $36.16 per share, with a total value of $180,800.00. Following the completion of the acquisition, the director now owns 43,832 shares of the company’s stock, valued at approximately $1,584,965.12. The disclosure for this purchase can be found here. 11.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reduced their price objective on Montrose Environmental Group from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. JPMorgan Chase & Co. cut Montrose Environmental Group from an “overweight” rating to a “neutral” rating and set a $39.00 target price for the company. in a report on Thursday, March 2nd. Finally, Morgan Stanley reduced their price target on Montrose Environmental Group from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, March 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.33.

Montrose Environmental Group Company 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.