Jose Revuelta Sells 7,858 Shares of Montrose Environmental Group (NYSE:MEG) Stock

Montrose Environmental Group, Inc. (NYSE:MEG) insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.00, for a total value of $212,166.00. Following the completion of the sale, the insider directly owned 269,282 shares in the company, valued at approximately $7,270,614. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Montrose Environmental Group Stock Performance

MEG opened at $25.88 on Friday. The business’s 50-day simple moving average is $24.29 and its 200 day simple moving average is $26.19. Montrose Environmental Group, Inc. has a 52-week low of $10.51 and a 52-week high of $32.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $931.31 million, a PE ratio of -107.85, a PEG ratio of 1.94 and a beta of 1.92.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results 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. The firm had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned ($0.90) earnings per share. As a group, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their target price on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.67.

Institutional Trading of Montrose Environmental Group

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in Montrose Environmental Group in the 3rd quarter valued at about $32,000. Canada Pension Plan Investment Board lifted its position in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 acquiring an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Montrose Environmental Group in the fourth quarter valued at approximately $75,000. Finally, Assetmark Inc. bought a new position in shares of Montrose Environmental Group during the fourth quarter worth approximately $84,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

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.