Fisher Asset Management LLC Acquires 4,802 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Fisher Asset Management LLC increased its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,628 shares of the company’s stock after acquiring an additional 4,802 shares during the quarter. Fisher Asset Management LLC’s holdings in Montrose Environmental Group were worth $5,161,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MEG. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Montrose Environmental Group by 51.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 635,695 shares of the company’s stock worth $18,600,000 after buying an additional 215,883 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Montrose Environmental Group by 42.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 470,800 shares of the company’s stock worth $13,557,000 after purchasing an additional 140,000 shares during the period. GSA Capital Partners LLP acquired a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $1,782,000. Van ECK Associates Corp boosted its stake in Montrose Environmental Group by 58.6% in the 3rd quarter. Van ECK Associates Corp now owns 86,047 shares of the company’s stock valued at $2,518,000 after purchasing an additional 31,788 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in Montrose Environmental Group by 67.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 66,887 shares of the company’s stock valued at $2,149,000 after buying an additional 26,983 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 0.9 %

MEG opened at $47.57 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.50. Montrose Environmental Group, Inc. has a twelve month low of $21.96 and a twelve month high of $47.94. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -30.11 and a beta of 1.91. The company has a 50-day simple moving average of $40.52 and a 200 day simple moving average of $33.67.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MEG. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday, April 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $51.00 price objective (up previously from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st.

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.