Blair William & Co. IL Has $34.30 Million Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Blair William & Co. IL lifted its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 769,653 shares of the company’s stock after purchasing an additional 37,335 shares during the quarter. Blair William & Co. IL’s holdings in Montrose Environmental Group were worth $34,296,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MEG. Benjamin F. Edwards & Company Inc. grew its stake in 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 worth $53,000 after buying an additional 1,111 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Montrose Environmental Group during the 2nd quarter worth approximately $204,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after acquiring an additional 504 shares during the period. Mainsail Asset Management LLC acquired a new stake in shares of Montrose Environmental Group during the 1st quarter worth approximately $217,000. Finally, Cladis Investment Advisory LLC bought a new position in Montrose Environmental Group in the fourth quarter valued at approximately $209,000. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $29.11 on Thursday. The company’s 50 day moving average price is $32.00 and its two-hundred day moving average price is $39.26. The firm has a market capitalization of $992.10 million, a P/E ratio of -19.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $49.97.

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

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday, August 8th. Evercore ISI assumed coverage on Montrose Environmental Group in a research report on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $45.60.

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.