Legato Capital Management LLC Purchases 25,300 Shares of Montrose Environmental Group, Inc. $MEG

Legato Capital Management LLC boosted its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 78.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 57,473 shares of the company’s stock after buying an additional 25,300 shares during the quarter. Legato Capital Management LLC’s holdings in Montrose Environmental Group were worth $1,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MEG. Canada Pension Plan Investment Board boosted its stake in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after purchasing an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after buying an additional 1,508 shares during the last quarter. AlphaQuest LLC lifted its holdings in Montrose Environmental Group by 17.4% in the second quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock valued at $105,000 after buying an additional 713 shares during the period. PNC Financial Services Group Inc. boosted its stake in Montrose Environmental Group by 13.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company’s stock valued at $139,000 after acquiring an additional 730 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Montrose Environmental Group by 26.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,108 shares of the company’s stock valued at $177,000 after acquiring an additional 1,716 shares during the last quarter. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Performance

MEG opened at $28.58 on Tuesday. The business’s 50-day moving average price is $24.08 and its two-hundred day moving average price is $26.23. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -119.08, a P/E/G ratio of 2.06 and a beta of 1.91. 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 posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. The company had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.Montrose Environmental Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) earnings per share. Equities analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

MEG has been the subject of several recent research reports. Needham & Company LLC upped their target price on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen cut Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Barclays upped their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.