Principal Financial Group Inc. Has $29.47 Million Holdings in Montrose Environmental Group, Inc. $ONT

Principal Financial Group Inc. grew its holdings in shares of Montrose Environmental Group, Inc. (NYSE:ONT) by 5.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,346,257 shares of the company’s stock after buying an additional 66,543 shares during the period. Principal Financial Group Inc.’s holdings in Montrose Environmental Group were worth $29,470,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of 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 acquiring an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Montrose Environmental Group by 2.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after acquiring an additional 515 shares in the last quarter. CWM LLC grew its holdings in Montrose Environmental Group by 8.6% in the fourth quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares during the period. Finally, Natixis Advisors LLC increased its stake in Montrose Environmental Group by 4.3% in the third quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock valued at $740,000 after purchasing an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ONT. Needham & Company LLC cut their price objective on shares of 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. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Finally, Barclays cut their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.00.

Insiders Place Their Bets

In other news, Director Peter Graham purchased 25,140 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the purchase, the director owned 256,689 shares of the company’s stock, valued at $4,412,483.91. The trade was a 10.86% increase in their ownership of the stock. The acquisition 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 firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $15.36 per share, with a total value of $100,377.60. Following the acquisition, the chief financial officer owned 218,178 shares in the company, valued at $3,351,214.08. The trade was a 3.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 36,535 shares of company stock valued at $610,003 over the last three months. Company insiders own 10.40% of the company’s stock.

Montrose Environmental Group Stock Performance

NYSE:ONT opened at $20.93 on Monday. Montrose Environmental Group, Inc. has a 12 month low of $14.13 and a 12 month high of $32.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $17.84 and its 200 day moving average is $21.31. The stock has a market capitalization of $756.41 million, a PE ratio of 418.68, a price-to-earnings-growth ratio of 1.53 and a beta of 1.67.

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.