12,246 Shares in Montrose Environmental Group, Inc. (NYSE:MEG) Acquired by Quest Partners LLC

Quest Partners LLC bought a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,246 shares of the company’s stock, valued at approximately $322,000.

A number of other large investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its stake in shares of Montrose Environmental Group by 11.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after buying an additional 504 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after buying an additional 586 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Montrose Environmental Group by 10.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock worth $514,000 after buying an additional 1,211 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Montrose Environmental Group by 16.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 9,285 shares of the company’s stock worth $331,000 after buying an additional 1,320 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Montrose Environmental Group by 6.9% during the third quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock worth $549,000 after buying an additional 1,351 shares during the period. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MEG shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Needham & Company LLC lowered their price target on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a report on Friday, November 8th. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a report on Thursday, October 17th. Finally, Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Montrose Environmental Group Price Performance

MEG stock opened at $19.26 on Tuesday. The company has a market capitalization of $660.62 million, a P/E ratio of -12.93 and a beta of 1.86. Montrose Environmental Group, Inc. has a twelve month low of $16.06 and a twelve month high of $49.97. The business has a 50 day simple moving average of $24.22 and a 200-day simple moving average of $33.46. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

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.