Montrose Environmental Group (NYSE:MEG) Insider Jose Revuelta Sells 7,858 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG) insider Jose Revuelta sold 7,858 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were 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 in the company, valued at $7,270,614. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Montrose Environmental Group Stock Performance

Shares of NYSE MEG traded up $0.01 during midday trading on Thursday, reaching $26.66. 18,335 shares of the company traded hands, compared to its average volume of 380,973. The company has a market cap of $959.23 million, a price-to-earnings ratio of -111.08, a PEG ratio of 1.96 and a beta of 1.92. The stock has a 50-day moving average price of $24.26 and a 200 day moving average price of $26.20. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.43 and a quick ratio of 1.43.

Montrose Environmental Group (NYSE:MEG) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The firm had revenue of $193.27 million during the quarter, compared to analyst estimates of $186.24 million. During the same quarter in the prior year, the firm posted ($0.90) EPS. Montrose Environmental Group’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. grew its stake in shares of Montrose Environmental Group by 3,407.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after purchasing an additional 1,246,199 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Montrose Environmental Group by 128.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after purchasing an additional 975,770 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Montrose Environmental Group during the fourth quarter valued at approximately $10,140,000. Marshall Wace LLP boosted its holdings in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after buying an additional 272,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Montrose Environmental Group by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock worth $36,192,000 after buying an additional 179,855 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEG has been the topic of several recent analyst reports. Wall Street Zen cut Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Needham & Company LLC increased their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.67.

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.