Moody National Bank Trust Division Makes New $1.16 Million Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Moody National Bank Trust Division acquired a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 26,012 shares of the company’s stock, valued at approximately $1,159,000. Moody National Bank Trust Division owned about 0.08% of Montrose Environmental Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Montrose Environmental Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 487,166 shares of the company’s stock worth $19,082,000 after acquiring an additional 2,596 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Montrose Environmental Group in the 1st quarter worth about $271,000. Silvercrest Asset Management Group LLC increased its holdings in shares of Montrose Environmental Group by 4.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 172,741 shares of the company’s stock valued at $6,766,000 after acquiring an additional 7,531 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of Montrose Environmental Group by 9.8% during the first quarter. Bamco Inc. NY now owns 1,154,030 shares of the company’s stock worth $45,203,000 after purchasing an additional 102,536 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Montrose Environmental Group by 10.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock valued at $514,000 after purchasing an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a report on Monday, July 15th.

Montrose Environmental Group Stock Performance

Shares of NYSE:MEG traded down $2.21 during trading on Monday, hitting $26.94. 361,582 shares of the stock were exchanged, compared to its average volume of 302,159. The company’s fifty day simple moving average is $40.67 and its 200-day simple moving average is $39.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $918.12 million, a price-to-earnings ratio of -18.20 and a beta of 1.88. Montrose Environmental Group, Inc. has a 1-year low of $21.96 and a 1-year high of $49.97.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $155.33 million during the quarter, compared to the consensus estimate of $152.61 million. Montrose Environmental Group had a negative net margin of 4.55% and a negative return on equity of 1.78%. Sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.17 EPS for the current fiscal year.

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.