William Blair Investment Management LLC Has $23.10 Million Position in Montrose Environmental Group, Inc. (NYSE:MEG)

William Blair Investment Management LLC decreased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 518,345 shares of the company’s stock after selling 70,972 shares during the quarter. William Blair Investment Management LLC owned approximately 1.52% of Montrose Environmental Group worth $23,097,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Montrose Environmental Group by 453.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock valued at $53,000 after acquiring an additional 1,111 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after purchasing an additional 504 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Montrose Environmental Group during the 2nd quarter worth approximately $204,000. Cladis Investment Advisory LLC acquired a new stake in shares of Montrose Environmental Group during the 4th quarter worth approximately $209,000. Finally, Mainsail Asset Management LLC bought a new stake in shares of Montrose Environmental Group during the first quarter worth approximately $217,000. 87.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MEG has been the topic of a number of recent research reports. Evercore ISI started coverage on shares of Montrose Environmental Group in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $45.60.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $29.16 on Monday. The stock’s fifty day simple moving average is $32.53 and its 200 day simple moving average is $39.48. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $998.15 million, a PE ratio of -19.70 and a beta of 1.88. Montrose Environmental Group, Inc. has a 12 month low of $21.96 and a 12 month high of $49.97.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. The business had revenue of $173.33 million for the quarter, compared to analyst estimates of $174.59 million. On average, research analysts predict that Montrose Environmental Group, Inc. will post 0.19 EPS for the current year.

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.