Connor Clark & Lunn Investment Management Ltd. Takes Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,710 shares of the company’s stock, valued at approximately $829,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Montrose Environmental Group by 11.1% during the 3rd quarter. FMR LLC now owns 352,264 shares of the company’s stock valued at $9,265,000 after buying an additional 35,314 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at $6,801,000. Rockefeller Capital Management L.P. grew its stake in shares of Montrose Environmental Group by 189.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock valued at $1,223,000 after buying an additional 30,437 shares during the period. Barclays PLC grew its stake in shares of Montrose Environmental Group by 375.0% during the 3rd quarter. Barclays PLC now owns 53,575 shares of the company’s stock valued at $1,410,000 after buying an additional 42,297 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Montrose Environmental Group by 159.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,206 shares of the company’s stock valued at $1,873,000 after buying an additional 43,739 shares during the period. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Performance

NYSE:MEG opened at $14.59 on Friday. Montrose Environmental Group, Inc. has a twelve month low of $14.28 and a twelve month high of $49.97. 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 firm has a market capitalization of $501.02 million, a price-to-earnings ratio of -9.79 and a beta of 1.72. The firm’s fifty day simple moving average is $19.46 and its 200 day simple moving average is $21.46.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. 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 report on Wednesday, December 11th. Finally, Evercore ISI reduced their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.