First Trust Advisors LP Has $13.23 Million Stock Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

First Trust Advisors LP increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 712,917 shares of the company’s stock after acquiring an additional 7,789 shares during the quarter. First Trust Advisors LP owned about 2.08% of Montrose Environmental Group worth $13,225,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC increased its position in shares of Montrose Environmental Group by 175.0% in the 4th quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock valued at $27,255,000 after buying an additional 934,938 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Montrose Environmental Group in the fourth quarter worth about $6,135,000. Granite Investment Partners LLC raised its position in shares of Montrose Environmental Group by 61.9% during the fourth quarter. Granite Investment Partners LLC now owns 846,834 shares of the company’s stock worth $15,709,000 after purchasing an additional 323,868 shares during the period. Summit Creek Advisors LLC grew its position in shares of Montrose Environmental Group by 49.4% in the 4th quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company’s stock valued at $10,716,000 after purchasing an additional 190,992 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Montrose Environmental Group by 50.6% during the 4th quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after purchasing an additional 161,957 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

Shares of MEG stock opened at $15.22 on Monday. The firm has a market cap of $527.59 million, a PE ratio of -10.21 and a beta of 1.81. Montrose Environmental Group, Inc. has a 12 month low of $10.51 and a 12 month high of $49.97. The company’s fifty day simple moving average is $15.52 and its 200-day simple moving average is $18.98. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of research reports. Evercore ISI cut their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $39.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.40.

Montrose Environmental Group Company 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.