Montrose Environmental Group, Inc. $MEG Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 43.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,310,251 shares of the company’s stock after selling 1,007,409 shares during the quarter. William Blair Investment Management LLC owned approximately 3.71% of Montrose Environmental Group worth $35,979,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Lisanti Capital Growth LLC acquired a new position in shares of Montrose Environmental Group during the 3rd quarter worth approximately $2,803,000. Peregrine Capital Management LLC lifted its position in Montrose Environmental Group by 16.6% during the third quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company’s stock worth $7,796,000 after buying an additional 40,393 shares in the last quarter. Atria Investments Inc acquired a new position in Montrose Environmental Group during the second quarter worth $266,000. Global Alpha Capital Management Ltd. grew its holdings in Montrose Environmental Group by 46.2% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 162,982 shares of the company’s stock valued at $3,568,000 after buying an additional 51,476 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter worth $502,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Up 2.1%

Shares of NYSE MEG opened at $29.22 on Monday. Montrose Environmental Group, Inc. has a 52-week low of $10.51 and a 52-week high of $32.00. The business’s 50 day moving average is $24.03 and its two-hundred day moving average is $26.23. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -121.73, a PEG ratio of 2.06 and a beta of 2.02. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The business had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. During the same period in the previous year, the firm posted ($0.90) earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Research analysts predict that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MEG shares. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Barclays increased their price target on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC upped their price objective on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.67.

Montrose Environmental Group Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.