Fisher Asset Management LLC Has $5.20 Million Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Fisher Asset Management LLC lifted its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 62.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,409 shares of the company’s stock after purchasing an additional 107,880 shares during the period. Fisher Asset Management LLC owned 0.82% of Montrose Environmental Group worth $5,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MEG. KBC Group NV increased its position 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 buying an additional 1,613 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Montrose Environmental Group in the third quarter valued at about $111,000. Avanza Fonder AB bought a new position in Montrose Environmental Group during the fourth quarter worth about $105,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Montrose Environmental Group in the 3rd quarter worth about $212,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Montrose Environmental Group in the 3rd quarter valued at about $214,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Down 6.5 %

Shares of MEG opened at $18.57 on Wednesday. The firm has a 50 day simple moving average of $20.12 and a two-hundred day simple moving average of $22.78. 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, Inc. has a one year low of $15.21 and a one year high of $49.97. The company has a market cap of $636.94 million, a P/E ratio of -12.46 and a beta of 1.71.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. 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 dropped their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus 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.