Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by Lane Generational LLC

Lane Generational LLC grew its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 71.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,566 shares of the company’s stock after acquiring an additional 20,251 shares during the quarter. Montrose Environmental Group comprises approximately 0.9% of Lane Generational LLC’s investment portfolio, making the stock its 25th biggest position. Lane Generational LLC owned about 0.14% of Montrose Environmental Group worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV increased its position in shares of 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 purchasing an additional 1,613 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Montrose Environmental Group during the 4th quarter worth about $105,000. Point72 DIFC Ltd acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter worth about $111,000. PNC Financial Services Group Inc. increased 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 purchasing an additional 1,898 shares during the last quarter. Finally, Wrapmanager Inc. increased its position in shares of 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 purchasing an additional 1,150 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MEG. Stifel Nicolaus dropped 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. Evercore ISI dropped their target price on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 target price 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Montrose Environmental Group Price Performance

MEG stock opened at $17.69 on Wednesday. The business has a 50 day moving average price of $20.11 and a 200 day moving average price of $22.25. The stock has a market cap of $607.54 million, a price-to-earnings ratio of -11.87 and a beta of 1.72. Montrose Environmental Group, Inc. has a fifty-two week low of $15.21 and a fifty-two week high of $49.97. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60.

About Montrose Environmental Group

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.