Vanguard Group Inc. Grows Position in Montrose Environmental Group, Inc. $ONT

Vanguard Group Inc. boosted its stake in shares of Montrose Environmental Group, Inc. (NYSE:ONT) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,986,620 shares of the company’s stock after purchasing an additional 57,437 shares during the period. Vanguard Group Inc. owned approximately 5.62% of Montrose Environmental Group worth $49,328,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at $32,000. Canada Pension Plan Investment Board boosted its holdings in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after acquiring an additional 1,508 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $84,000. Finally, CWM LLC boosted its holdings in shares of Montrose Environmental Group by 8.6% in the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock valued at $207,000 after acquiring an additional 659 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Performance

ONT opened at $15.18 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a fifty day moving average price of $21.66 and a 200 day moving average price of $23.74. The stock has a market cap of $548.61 million, a P/E ratio of 303.66, a P/E/G ratio of 1.41 and a beta of 1.83. Montrose Environmental Group, Inc. has a 1 year low of $14.89 and a 1 year high of $32.00.

Montrose Environmental Group (NYSE:ONT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. Equities research analysts anticipate that Montrose Environmental Group, Inc. will post 0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC dropped their price objective on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Zacks Research downgraded shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.33.

Insider Activity at Montrose Environmental Group

In other Montrose Environmental Group news, insider Jose Revuelta sold 7,858 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.00, for a total transaction of $212,166.00. Following the completion of the transaction, the insider directly owned 269,282 shares in the company, valued at approximately $7,270,614. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total transaction of $1,229,782.76. Following the transaction, the general counsel owned 204,878 shares of the company’s stock, valued at $5,812,388.86. This represents a 17.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 107,527 shares of company stock valued at $2,908,583 in the last three months. Company insiders own 10.40% of the company’s stock.

Montrose Environmental Group 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.