Legal & General Group Plc Purchases 103,460 Shares of Montrose Environmental Group, Inc. $MEG

Legal & General Group Plc boosted its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 12.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 904,154 shares of the company’s stock after buying an additional 103,460 shares during the period. Legal & General Group Plc owned about 2.56% of Montrose Environmental Group worth $19,792,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Montrose Environmental Group by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock valued at $33,913,000 after buying an additional 97,035 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Montrose Environmental Group by 21.8% during the second quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company’s stock valued at $50,734,000 after acquiring an additional 414,272 shares during the period. Millennium Management LLC boosted its stake in shares of Montrose Environmental Group by 4.4% in the 1st quarter. Millennium Management LLC now owns 1,504,541 shares of the company’s stock valued at $21,455,000 after purchasing an additional 62,826 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Montrose Environmental Group by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 765,027 shares of the company’s stock worth $16,748,000 after purchasing an additional 27,316 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Montrose Environmental Group by 44.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 656,814 shares of the company’s stock worth $14,378,000 after purchasing an additional 202,541 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of Montrose Environmental Group stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $24.07, for a total value of $1,082,764.88. Following the sale, the chief executive officer directly owned 316,637 shares in the company, valued at $7,621,452.59. This trade represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.90% of the stock is owned by corporate insiders.

Montrose Environmental Group Price Performance

Shares of MEG opened at $25.63 on Friday. The stock has a market cap of $905.62 million, a P/E ratio of -28.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.84. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The stock’s 50-day moving average price is $26.77 and its two-hundred day moving average price is $25.02. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. The business had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group has set its FY 2025 guidance at EPS. On average, equities analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MEG. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. JPMorgan Chase & Co. increased their price target on Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Zacks Research lowered Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Finally, Needham & Company LLC increased their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Montrose Environmental Group has a consensus rating of “Hold” and a consensus price target of $34.40.

Montrose Environmental Group Profile

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.