Dimensional Fund Advisors LP Raises Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Dimensional Fund Advisors LP raised its position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 677,218 shares of the company's stock after acquiring an additional 143,653 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.97% of Montrose Environmental Group worth $12,563,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MEG. Vanguard Group Inc. raised its position in Montrose Environmental Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,802,551 shares of the company's stock valued at $33,437,000 after purchasing an additional 11,211 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Montrose Environmental Group by 175.0% during the 4th quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company's stock worth $27,255,000 after acquiring an additional 934,938 shares in the last quarter. Granite Investment Partners LLC raised its holdings in Montrose Environmental Group by 61.9% during the fourth quarter. Granite Investment Partners LLC now owns 846,834 shares of the company's stock worth $15,709,000 after purchasing an additional 323,868 shares in the last quarter. First Trust Advisors LP raised its stake in Montrose Environmental Group by 1.1% during the 4th quarter. First Trust Advisors LP now owns 712,917 shares of the company's stock worth $13,225,000 after acquiring an additional 7,789 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its position in Montrose Environmental Group by 49.4% in the fourth quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company's stock valued at $10,716,000 after acquiring an additional 190,992 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Evercore ISI dropped their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Needham & Company LLC raised their price target on Montrose Environmental Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Montrose Environmental Group currently has a consensus rating of "Moderate Buy" and an average price target of $31.80.

Montrose Environmental Group Stock Performance

Shares of MEG traded up $0.67 during mid-day trading on Thursday, hitting $19.60. 105,622 shares of the company's stock were exchanged, compared to its average volume of 528,978. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $49.97. The business's 50 day moving average is $14.91 and its two-hundred day moving average is $18.20. The firm has a market capitalization of $679.41 million, a P/E ratio of -13.15 and a beta of 1.80.

Montrose Environmental Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 7th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Montrose Environmental Group Profile

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.