Global Retirement Partners LLC Cuts Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Global Retirement Partners LLC cut its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,442 shares of the company’s stock after selling 611 shares during the quarter. Global Retirement Partners LLC’s holdings in Montrose Environmental Group were worth $45,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MEG. KBC Group NV raised its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after purchasing an additional 1,613 shares during the period. Avanza Fonder AB bought a new stake in shares of Montrose Environmental Group during the fourth quarter valued at approximately $105,000. Point72 DIFC Ltd purchased a new position in shares of Montrose Environmental Group in the third quarter worth $111,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Montrose Environmental Group during the third quarter worth $212,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Montrose Environmental Group during the third quarter valued at $214,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Evercore ISI reduced their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a report on Tuesday, January 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Montrose Environmental Group Trading Down 15.8 %

Shares of MEG stock opened at $19.49 on Friday. The company has a market cap of $668.35 million, a PE ratio of -13.08 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The stock’s 50 day simple moving average is $20.03 and its two-hundred day simple moving average is $23.04. Montrose Environmental Group, Inc. has a 1 year low of $15.21 and a 1 year high of $49.97.

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.