Fisher Asset Management LLC Boosts Stock Position in Montrose Environmental Group, Inc. $ONT

Fisher Asset Management LLC boosted its holdings in shares of Montrose Environmental Group, Inc. (NYSE:ONT) by 36.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 352,569 shares of the company’s stock after acquiring an additional 94,697 shares during the quarter. Fisher Asset Management LLC’s holdings in Montrose Environmental Group were worth $8,754,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Montrose Environmental Group by 3.7% in the 4th quarter. Legal & General Group Plc now owns 638,630 shares of the company’s stock worth $15,857,000 after buying an additional 22,711 shares during the period. Summit Creek Advisors LLC lifted its holdings in shares of Montrose Environmental Group by 10.6% in the 4th quarter. Summit Creek Advisors LLC now owns 628,786 shares of the company’s stock worth $15,613,000 after buying an additional 60,237 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Montrose Environmental Group by 39.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,804 shares of the company’s stock worth $119,000 after buying an additional 1,359 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Montrose Environmental Group by 6.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 704,702 shares of the company’s stock worth $17,498,000 after buying an additional 43,774 shares during the period. Finally, Versor Investments LP increased its position in Montrose Environmental Group by 69.8% during the 4th quarter. Versor Investments LP now owns 22,750 shares of the company’s stock valued at $565,000 after buying an additional 9,350 shares in the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Down 2.8%

Shares of ONT stock opened at $15.46 on Thursday. The stock’s 50-day simple moving average is $20.00 and its 200-day simple moving average is $23.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $558.72 million, a PE ratio of 309.26, a P/E/G ratio of 1.19 and a beta of 1.83. Montrose Environmental Group, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $32.00.

Montrose Environmental Group (NYSE:ONT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.90) earnings per share. Equities analysts expect that Montrose Environmental Group, Inc. will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on ONT shares. Barclays reduced their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Zacks Research lowered Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Finally, Needham & Company LLC reduced their target price on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.67.

Insiders Place Their Bets

In other news, insider Jose Revuelta sold 7,858 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $27.00, for a total value of $212,166.00. Following the transaction, the insider directly owned 269,282 shares of the company’s stock, valued at approximately $7,270,614. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Allan Dicks acquired 6,535 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the acquisition, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 107,527 shares of company stock valued at $2,908,583. Insiders own 10.40% of the company’s stock.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.