Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 25.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 818,657 shares of the company’s stock after selling 286,646 shares during the period. Truist Financial Corp owned approximately 2.39% of Montrose Environmental Group worth $15,186,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Fred Alger Management LLC boosted its holdings in Montrose Environmental Group by 33.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock worth $49,086,000 after buying an additional 470,706 shares during the last quarter. Bamco Inc. NY boosted its holdings in Montrose Environmental Group by 7.4% in the 3rd quarter. Bamco Inc. NY now owns 1,242,630 shares of the company’s stock worth $32,681,000 after buying an additional 86,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Montrose Environmental Group by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 716,558 shares of the company’s stock worth $18,850,000 after buying an additional 23,356 shares during the last quarter. State Street Corp boosted its holdings in Montrose Environmental Group by 0.8% in the 3rd quarter. State Street Corp now owns 679,871 shares of the company’s stock worth $17,881,000 after buying an additional 5,687 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in Montrose Environmental Group by 1.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 472,627 shares of the company’s stock worth $8,767,000 after buying an additional 7,782 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $39.00 target price on shares of Montrose Environmental Group in a report on Tuesday, January 28th. Finally, Evercore ISI lowered their target price on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Montrose Environmental Group Stock Down 1.1 %

MEG stock opened at $18.06 on Friday. The firm has a market cap of $619.29 million, a PE ratio of -12.12 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The firm’s 50 day moving average price is $19.81 and its 200-day moving average price is $23.59. Montrose Environmental Group, Inc. has a one year low of $15.21 and a one year high of $49.97.

Montrose Environmental Group Company 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.