Montrose Environmental Group, Inc. (NYSE:MEG) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 43.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,942 shares of the company’s stock after acquiring an additional 586 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Montrose Environmental Group were worth $86,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its position in shares of Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Montrose Environmental Group during the second quarter valued at $204,000. Cladis Investment Advisory LLC acquired a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $209,000. Mainsail Asset Management LLC purchased a new stake in shares of Montrose Environmental Group during the first quarter worth about $217,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Montrose Environmental Group during the 1st quarter worth about $271,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MEG has been the topic of several research analyst reports. Evercore ISI began coverage on Montrose Environmental Group in a report on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $45.60.

Montrose Environmental Group Stock Performance

NYSE:MEG opened at $27.29 on Friday. The company’s 50-day moving average is $30.67 and its two-hundred day moving average is $38.79. Montrose Environmental Group, Inc. has a 1-year low of $21.96 and a 1-year high of $49.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $930.07 million, a price-to-earnings ratio of -18.44 and a beta of 1.88.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $173.33 million during the quarter, compared to analysts’ expectations of $174.59 million. Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. Analysts forecast that Montrose Environmental Group, Inc. will post 0.19 EPS for the current year.

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.