Truist Financial Corp Decreases Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Truist Financial Corp trimmed its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,235 shares of the company’s stock after selling 13,845 shares during the period. Truist Financial Corp’s holdings in Montrose Environmental Group were worth $35,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock worth $98,000 after buying an additional 1,971 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Montrose Environmental Group during the 3rd quarter worth about $109,000. Versor Investments LP purchased a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at about $214,000. Jump Financial LLC purchased a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at about $280,000. Finally, Graham Capital Management L.P. lifted its holdings in shares of Montrose Environmental Group by 118.8% in the 3rd quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock valued at $318,000 after purchasing an additional 5,898 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MEG has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday, April 4th.

Montrose Environmental Group Stock Up 4.7 %

Montrose Environmental Group stock opened at $43.11 on Monday. The company has a market capitalization of $1.32 billion, a P/E ratio of -27.28 and a beta of 2.00. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $45.96. The stock has a 50-day simple moving average of $39.14 and a 200-day simple moving average of $32.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.59.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. The firm had revenue of $165.74 million for the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. Equities research analysts expect that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current year.

Montrose Environmental Group Profile

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.