Stifel Financial Corp Purchases 8,703 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Stifel Financial Corp lifted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 58.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,521 shares of the company’s stock after buying an additional 8,703 shares during the period. Stifel Financial Corp’s holdings in Montrose Environmental Group were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MEG. Point72 DIFC Ltd bought a new position in Montrose Environmental Group in the 3rd quarter valued at $111,000. Point72 Asset Management L.P. bought a new position in Montrose Environmental Group during the third quarter valued at about $835,000. ArrowMark Colorado Holdings LLC increased its holdings in Montrose Environmental Group by 22.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 263,252 shares of the company’s stock worth $6,924,000 after buying an additional 47,831 shares during the last quarter. Bamco Inc. NY raised its position in Montrose Environmental Group by 7.4% in the third quarter. Bamco Inc. NY now owns 1,242,630 shares of the company’s stock worth $32,681,000 after acquiring an additional 86,000 shares during the period. Finally, Fred Alger Management LLC boosted its stake in Montrose Environmental Group by 33.7% in the third quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock valued at $49,086,000 after acquiring an additional 470,706 shares during the last quarter. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $17.25 on Thursday. Montrose Environmental Group, Inc. has a 52-week low of $15.21 and a 52-week high of $49.97. The stock’s 50-day simple moving average is $20.77 and its 200 day simple moving average is $29.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a market capitalization of $591.69 million, a price-to-earnings ratio of -11.58 and a beta of 1.72.

Analyst Ratings Changes

A number of research firms recently commented on MEG. Stifel Nicolaus lowered their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Needham & Company LLC lowered their price objective on Montrose Environmental Group from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $29.00 target price (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 target on shares of Montrose Environmental Group in a research report on Thursday, October 17th. Finally, Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $52.00 to $29.00 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.60.

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.