Montrose Environmental Group (NYSE:ONT) CFO Allan Dicks Buys 6,535 Shares

Montrose Environmental Group, Inc. (NYSE:ONT) CFO Allan Dicks acquired 6,535 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the acquisition, the chief financial officer owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Montrose Environmental Group Stock Down 1.1%

Montrose Environmental Group stock opened at $15.75 on Wednesday. The firm has a market capitalization of $569.21 million, a PE ratio of 315.06, a P/E/G ratio of 1.09 and a beta of 1.83. The company’s 50-day moving average is $22.43 and its 200-day moving average is $23.99. Montrose Environmental Group, Inc. has a fifty-two week low of $15.18 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84.

Montrose Environmental Group (NYSE:ONT) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. Montrose Environmental Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.90) EPS. Sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Zacks Research lowered shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Needham & Company LLC cut their target price on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen lowered 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, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.33.

Institutional Trading of Montrose Environmental Group

Several institutional investors and hedge funds have recently made changes to their positions in ONT. Alliancebernstein L.P. raised its holdings in shares of Montrose Environmental Group by 3,407.7% in the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after purchasing an additional 1,246,199 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Montrose Environmental Group by 128.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock worth $43,030,000 after buying an additional 975,770 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Montrose Environmental Group during the fourth quarter worth about $10,140,000. Marshall Wace LLP boosted its position in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after purchasing an additional 272,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Montrose Environmental Group by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock worth $36,192,000 after purchasing an additional 179,855 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

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.