Lisanti Capital Growth LLC Purchases New Holdings in Montrose Environmental Group, Inc. $MEG

Lisanti Capital Growth LLC acquired a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 102,082 shares of the company’s stock, valued at approximately $2,803,000. Lisanti Capital Growth LLC owned about 0.29% of Montrose Environmental Group at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in Montrose Environmental Group by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock valued at $261,000 after purchasing an additional 488 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Montrose Environmental Group by 2.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after acquiring an additional 515 shares during the period. Horrell Capital Management Inc. increased its holdings in shares of Montrose Environmental Group by 2.2% during the 2nd quarter. Horrell Capital Management Inc. now owns 27,427 shares of the company’s stock worth $600,000 after acquiring an additional 597 shares during the last quarter. AlphaQuest LLC raised its stake in Montrose Environmental Group by 17.4% in the 2nd quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock valued at $105,000 after acquiring an additional 713 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Montrose Environmental Group by 13.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company’s stock valued at $139,000 after purchasing an additional 730 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Needham & Company LLC raised their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research cut Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen cut Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Montrose Environmental Group presently has an average rating of “Hold” and a consensus price target of $33.50.

Montrose Environmental Group Trading Up 0.3%

Shares of MEG stock opened at $22.27 on Friday. The stock has a market cap of $787.16 million, a P/E ratio of -24.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.97. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $25.04 and a 200 day simple moving average of $26.14.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%. On average, research analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $24.07, for a total value of $1,082,764.88. Following the transaction, the chief executive officer directly owned 316,637 shares of the company’s stock, valued at $7,621,452.59. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is owned by insiders.

Montrose Environmental Group Company Profile

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.