Peregrine Capital Management LLC Increases Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Peregrine Capital Management LLC lifted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 231,393 shares of the company’s stock after buying an additional 4,111 shares during the period. Peregrine Capital Management LLC owned approximately 0.67% of Montrose Environmental Group worth $4,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV boosted its stake in shares of Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after buying an additional 1,613 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Montrose Environmental Group in the 3rd quarter worth approximately $111,000. Avanza Fonder AB purchased a new position in shares of Montrose Environmental Group in the 4th quarter worth approximately $105,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Montrose Environmental Group in the 3rd quarter worth approximately $212,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $214,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 0.5 %

Shares of MEG stock opened at $18.25 on Thursday. The company’s fifty day simple moving average is $19.77 and its two-hundred day simple moving average is $23.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. Montrose Environmental Group, Inc. has a 1 year low of $15.21 and a 1 year high of $49.97. The stock has a market capitalization of $626.06 million, a price-to-earnings ratio of -12.25 and a beta of 1.71.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MEG shares. Evercore ISI lowered 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 report on Monday, February 10th. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a report on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

About Montrose Environmental Group

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.