Montrose Environmental Group, Inc. (NYSE:MEG) Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 175.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,469,280 shares of the company’s stock after acquiring an additional 934,938 shares during the period. William Blair Investment Management LLC owned about 4.28% of Montrose Environmental Group worth $27,255,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MEG. KBC Group NV lifted its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after acquiring an additional 1,613 shares in the last quarter. Avanza Fonder AB acquired a new position in Montrose Environmental Group during the 4th quarter worth about $105,000. Point72 DIFC Ltd acquired a new position in Montrose Environmental Group during the 3rd quarter worth about $111,000. PNC Financial Services Group Inc. lifted its stake in 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 acquiring an additional 1,898 shares in the last quarter. Finally, Wrapmanager Inc. lifted its stake in Montrose Environmental Group by 12.8% during the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock worth $187,000 after acquiring an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $15.77 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. Montrose Environmental Group, Inc. has a fifty-two week low of $15.21 and a fifty-two week high of $49.97. The firm has a market capitalization of $541.54 million, a PE ratio of -10.58 and a beta of 1.72. The stock’s 50-day simple moving average is $19.83 and its 200-day simple moving average is $21.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MEG shares. Evercore ISI reduced their price target on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Stifel Nicolaus reduced their price target on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Montrose Environmental Group currently has an average rating of “Moderate Buy” and an average target price of $33.60.

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.