Sei Investments Co. Purchases 20,911 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Sei Investments Co. grew its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 42.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,250 shares of the company’s stock after purchasing an additional 20,911 shares during the quarter. Sei Investments Co. owned approximately 0.21% of Montrose Environmental Group worth $3,130,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Montrose Environmental Group by 453.5% in 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 purchased a new stake in shares of Montrose Environmental Group in the 2nd quarter valued at $204,000. CANADA LIFE ASSURANCE Co grew 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 valued at $187,000 after purchasing an additional 504 shares during the last quarter. Mainsail Asset Management LLC purchased a new position in Montrose Environmental Group in the 1st quarter worth $217,000. Finally, Cladis Investment Advisory LLC bought a new stake in Montrose Environmental Group in the fourth quarter worth $209,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Price Performance

MEG stock opened at $21.63 on Friday. The stock has a market capitalization of $737.17 million, a price-to-earnings ratio of -14.61 and a beta of 1.88. The firm’s 50-day moving average price is $30.19 and its two-hundred day moving average price is $38.47. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. Montrose Environmental Group, Inc. has a 12-month low of $21.17 and a 12-month high of $49.97.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $173.33 million for the quarter, compared to analysts’ expectations of $174.59 million. As a group, equities analysts predict that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

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

Montrose Environmental Group Company 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.