Barclays PLC Buys 42,297 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Barclays PLC grew its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 375.0% during the 3rd quarter, Holdings Channel reports. The firm owned 53,575 shares of the company’s stock after purchasing an additional 42,297 shares during the quarter. Barclays PLC’s holdings in Montrose Environmental Group were worth $1,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC boosted its position 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 buying an additional 470,706 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Montrose Environmental Group by 11.4% in the second quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company’s stock valued at $56,613,000 after acquiring an additional 130,000 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Montrose Environmental Group by 7.4% in the 3rd 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 in the last quarter. Driehaus Capital Management LLC grew its position in Montrose Environmental Group by 253.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock worth $51,210,000 after acquiring an additional 823,636 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in Montrose Environmental Group by 5.1% during the 2nd quarter. Blair William & Co. IL now owns 769,653 shares of the company’s stock valued at $34,296,000 after purchasing an additional 37,335 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $17.45 on Friday. The stock has a market cap of $598.55 million, a price-to-earnings ratio of -11.71 and a beta of 1.71. Montrose Environmental Group, Inc. has a 12-month low of $15.21 and a 12-month high of $49.97. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The business’s 50-day simple moving average is $20.40 and its 200 day simple moving average is $28.65.

Analyst Ratings Changes

MEG has been the topic of a number of recent analyst reports. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a research note on Thursday, October 17th. Needham & Company LLC reduced their price target on shares of Montrose Environmental Group from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.60.

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.