Naviter Wealth LLC Sells 1,035 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Naviter Wealth LLC lessened its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 3.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,198 shares of the company’s stock after selling 1,035 shares during the period. Naviter Wealth LLC owned 0.08% of Montrose Environmental Group worth $810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Emerald Advisers LLC raised its stake in shares of Montrose Environmental Group by 62.4% in the third quarter. Emerald Advisers LLC now owns 777,221 shares of the company’s stock worth $22,741,000 after purchasing an additional 298,629 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in shares of Montrose Environmental Group by 51.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 635,695 shares of the company’s stock valued at $18,600,000 after purchasing an additional 215,883 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Montrose Environmental Group by 42.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 470,800 shares of the company’s stock valued at $13,557,000 after buying an additional 140,000 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $1,782,000. Finally, Van ECK Associates Corp increased its holdings in shares of Montrose Environmental Group by 58.6% in the third quarter. Van ECK Associates Corp now owns 86,047 shares of the company’s stock worth $2,518,000 after purchasing an additional 31,788 shares during the period. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Down 1.6 %

MEG stock opened at $42.57 on Tuesday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -27.38 and a beta of 2.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.59. The business’s 50-day moving average is $39.33 and its two-hundred day moving average is $33.05. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $45.96.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. The firm had revenue of $165.74 million for the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. As a group, analysts forecast that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.