BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New $6.80 Million Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the third quarter, according to its most recent filing with the SEC. The firm acquired 258,599 shares of the company’s stock, valued at approximately $6,801,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Montrose Environmental Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company’s stock valued at $60,502,000 after acquiring an additional 9,913 shares during the last quarter. Fred Alger Management LLC lifted its position in Montrose Environmental Group by 17.6% during the 2nd quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company’s stock valued at $62,192,000 after purchasing an additional 208,785 shares during the period. Federated Hermes Inc. boosted its stake in shares of Montrose Environmental Group by 11.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company’s stock valued at $56,613,000 after purchasing an additional 130,000 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of 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 buying an additional 823,636 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Montrose Environmental Group by 5.1% during the second quarter. Blair William & Co. IL now owns 769,653 shares of the company’s stock worth $34,296,000 after buying an additional 37,335 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on MEG shares. Needham & Company LLC reduced their price objective on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a research note on Thursday, October 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group presently has an average rating of “Moderate Buy” and an average price target of $39.20.

Montrose Environmental Group Price Performance

MEG opened at $17.89 on Monday. The stock has a market cap of $613.63 million, a P/E ratio of -12.01 and a beta of 1.86. Montrose Environmental Group, Inc. has a 12 month low of $16.06 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 company has a fifty day simple moving average of $24.41 and a 200 day simple moving average of $33.63.

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.