Zurcher Kantonalbank Zurich Cantonalbank Buys 6,294 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 147.2% during the third quarter, Holdings Channel.com reports. The fund owned 10,571 shares of the company’s stock after purchasing an additional 6,294 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Montrose Environmental Group were worth $278,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MEG. Benjamin F. Edwards & Company Inc. increased its position in shares of Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after acquiring an additional 586 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Montrose Environmental Group by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock worth $514,000 after purchasing an additional 1,211 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Montrose Environmental Group by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock worth $549,000 after buying an additional 1,351 shares during the last quarter. Wrapmanager Inc. grew its position in Montrose Environmental Group by 18.8% during the third quarter. Wrapmanager Inc. now owns 8,955 shares of the company’s stock valued at $236,000 after buying an additional 1,420 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Montrose Environmental Group by 16.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,123 shares of the company’s stock worth $540,000 after buying an additional 1,695 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Up 2.2 %

MEG stock opened at $16.96 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $22.34 and its 200 day moving average is $31.63. The stock has a market cap of $581.74 million, a price-to-earnings ratio of -11.38 and a beta of 1.71. Montrose Environmental Group, Inc. has a 1-year low of $16.06 and a 1-year high of $49.97.

Analyst Ratings Changes

MEG has been the topic of a number of research reports. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a report on Thursday, October 17th. Finally, Needham & Company LLC dropped their price objective on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Montrose Environmental Group has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

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.