Avalon Trust Co Acquires 5,750 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Avalon Trust Co increased its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,800 shares of the company’s stock after buying an additional 5,750 shares during the period. Avalon Trust Co owned about 0.45% of Montrose Environmental Group worth $4,331,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Montrose Environmental Group by 37.3% during the fourth quarter. M&T Bank Corp now owns 28,040 shares of the company’s stock worth $901,000 after purchasing an additional 7,618 shares during the period. Fisher Asset Management LLC grew its position in shares of Montrose Environmental Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,628 shares of the company’s stock valued at $5,161,000 after buying an additional 4,802 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Montrose Environmental Group by 28.1% in the fourth quarter. New York State Common Retirement Fund now owns 51,632 shares of the company’s stock valued at $1,659,000 after buying an additional 11,339 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Montrose Environmental Group by 67.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 66,887 shares of the company’s stock valued at $2,149,000 after buying an additional 26,983 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Montrose Environmental Group by 25.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 41,300 shares of the company’s stock worth $1,327,000 after acquiring an additional 8,265 shares during the period. 87.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research note on Thursday, April 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, March 1st.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock traded up $0.24 during mid-day trading on Friday, reaching $44.51. 459,784 shares of the company’s stock were exchanged, compared to its average volume of 362,893. The business’s fifty day simple moving average is $40.22 and its 200 day simple moving average is $33.45. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.50. Montrose Environmental Group, Inc. has a one year low of $21.96 and a one year high of $45.96. The firm has a market capitalization of $1.36 billion, a PE ratio of -28.17 and a beta of 1.91.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $165.74 million for the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. On average, sell-side analysts expect that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current year.

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.