PNC Financial Services Group Inc. Grows Position in Montrose Environmental Group, Inc. (NYSE:MEG)

PNC Financial Services Group Inc. increased its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 42.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,365 shares of the company’s stock after purchasing an additional 1,898 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Montrose Environmental Group were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MEG. Natixis Advisors LLC boosted its stake in shares of Montrose Environmental Group by 6.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock worth $549,000 after purchasing an additional 1,351 shares during the last quarter. Quest Partners LLC purchased a new stake in Montrose Environmental Group in the 3rd quarter worth approximately $322,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Montrose Environmental Group in the 3rd quarter worth approximately $212,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Montrose Environmental Group in the 3rd quarter valued at $6,801,000. Finally, Intech Investment Management LLC purchased a new position in shares of Montrose Environmental Group during the 3rd quarter worth $295,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

MEG has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on 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. Needham & Company LLC restated a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Finally, Evercore ISI dropped their price objective on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Trading Up 5.0 %

MEG stock opened at $15.36 on Tuesday. 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 company has a market cap of $527.29 million, a price-to-earnings ratio of -10.31 and a beta of 1.72. The business has a fifty day simple moving average of $19.34 and a 200-day simple moving average of $21.21. Montrose Environmental Group, Inc. has a 52 week low of $14.28 and a 52 week high of $49.97.

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.