Avalon Trust Co Sells 900 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Avalon Trust Co lowered its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,865 shares of the company’s stock after selling 900 shares during the quarter. Avalon Trust Co owned 0.61% of Montrose Environmental Group worth $3,893,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MEG. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Montrose Environmental Group during the 4th quarter worth approximately $829,000. Lane Generational LLC lifted its position in shares of Montrose Environmental Group by 71.5% during the 4th quarter. Lane Generational LLC now owns 48,566 shares of the company’s stock worth $901,000 after buying an additional 20,251 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of Montrose Environmental Group by 8.6% during the 4th quarter. Essex Investment Management Co. LLC now owns 109,226 shares of the company’s stock worth $2,026,000 after buying an additional 8,617 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Montrose Environmental Group by 42.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock worth $118,000 after buying an additional 1,898 shares during the period. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of Montrose Environmental Group by 5.7% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 73,890 shares of the company’s stock worth $1,371,000 after buying an additional 4,000 shares during the period. Institutional investors own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

MEG has been the subject of several analyst reports. Stifel Nicolaus cut their target price on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Finally, Evercore ISI dropped their price target on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Montrose Environmental Group has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Montrose Environmental Group Trading Up 0.2 %

MEG stock opened at $16.90 on Friday. The business has a fifty day moving average price of $20.01 and a 200 day moving average price of $21.99. Montrose Environmental Group, Inc. has a fifty-two week low of $15.21 and a fifty-two week high of $49.97. The stock has a market capitalization of $580.24 million, a price-to-earnings ratio of -11.34 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93.

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.