Blair William & Co. IL Has $4.77 Million Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Blair William & Co. IL decreased its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 48.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,221 shares of the company’s stock after selling 312,391 shares during the quarter. Blair William & Co. IL owned 0.96% of Montrose Environmental Group worth $4,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MEG. Bamco Inc. NY boosted its position in Montrose Environmental Group by 84.5% during the 4th quarter. Bamco Inc. NY now owns 2,292,630 shares of the company’s stock worth $42,528,000 after acquiring an additional 1,050,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Montrose Environmental Group by 3.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,281,177 shares of the company’s stock worth $42,316,000 after purchasing an additional 67,280 shares during the period. Bank of America Corp DE boosted its holdings in shares of Montrose Environmental Group by 42.2% during the fourth quarter. Bank of America Corp DE now owns 1,819,010 shares of the company’s stock worth $33,743,000 after purchasing an additional 539,779 shares during the period. Vanguard Group Inc. grew its position in Montrose Environmental Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,802,551 shares of the company’s stock valued at $33,437,000 after purchasing an additional 11,211 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Montrose Environmental Group by 52.6% in the 4th quarter. Millennium Management LLC now owns 1,441,715 shares of the company’s stock valued at $26,744,000 after buying an additional 496,661 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Down 1.0%

Montrose Environmental Group stock opened at $22.49 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.58. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $34.56. The firm’s fifty day simple moving average is $22.16 and its 200-day simple moving average is $18.97. The company has a market capitalization of $779.40 million, a P/E ratio of -9.69, a P/E/G ratio of 7.98 and a beta of 1.90.

Montrose Environmental Group declared that its Board of Directors has approved a share buyback plan on Wednesday, May 7th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lifted their target price on shares of Montrose Environmental Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.80.

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.