Montrose Environmental Group, Inc. $ONT Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its position in Montrose Environmental Group, Inc. (NYSE:ONT) by 10.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 787,535 shares of the company’s stock after selling 87,964 shares during the period. Royce & Associates LP’s holdings in Montrose Environmental Group were worth $19,554,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at $32,000. Canada Pension Plan Investment Board lifted its holdings in shares of Montrose Environmental Group by 533.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after buying an additional 1,600 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after purchasing an additional 1,508 shares during the period. Assetmark Inc. acquired a new stake in shares of Montrose Environmental Group during the fourth quarter worth $84,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Montrose Environmental Group by 39.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,804 shares of the company’s stock worth $119,000 after purchasing an additional 1,359 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ONT. Zacks Research lowered Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Barclays cut their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Finally, Needham & Company LLC cut their target price on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.67.

Insider Activity

In related news, insider Jose Revuelta sold 7,858 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $27.00, for a total transaction of $212,166.00. Following the transaction, the insider directly owned 269,282 shares of the company’s stock, valued at approximately $7,270,614. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.41, for a total value of $1,171,934.61. Following the transaction, the chief executive officer directly owned 236,788 shares in the company, valued at $6,016,783.08. The trade was a 16.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 107,527 shares of company stock valued at $2,908,583 in the last ninety days. Corporate insiders own 10.40% of the company’s stock.

Montrose Environmental Group Stock Down 4.8%

Shares of Montrose Environmental Group stock opened at $15.83 on Wednesday. The stock’s fifty day moving average is $20.16 and its 200-day moving average is $23.21. The firm has a market capitalization of $572.08 million, a PE ratio of 316.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.83. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group, Inc. has a 12-month low of $14.13 and a 12-month high of $32.00.

Montrose Environmental Group (NYSE:ONT) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.Montrose Environmental Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.90) earnings per share. Equities analysts anticipate that Montrose Environmental Group, Inc. will post 0.71 earnings per share for the current year.

About Montrose Environmental Group

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.