Avalon Trust Co Sells 30,395 Shares of Montrose Environmental Group, Inc. $MEG

Key Points

• Avalon Trust Co reduced its holdings in Montrose Environmental Group by 15.6%, selling 30,395 shares during the second quarter and now owns 164,402 shares valued at approximately $3.6 million.
• After recent activity, 87.87% of Montrose Environmental Group's stock is owned by institutional investors, indicating a strong institutional presence in the company's ownership.
• Analysts have a consensus rating of "Moderate Buy" for Montrose Environmental Group, with price targets ranging from $31.00 to $35.00 as several firms upgraded their ratings recently.

Avalon Trust Co cut its holdings in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 15.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,402 shares of the company's stock after selling 30,395 shares during the period. Avalon Trust Co owned about 0.47% of Montrose Environmental Group worth $3,599,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MEG. Royce & Associates LP increased its holdings in shares of Montrose Environmental Group by 167.5% in the 1st quarter. Royce & Associates LP now owns 852,849 shares of the company's stock worth $12,162,000 after buying an additional 533,986 shares during the last quarter. Nuveen LLC purchased a new position in shares of Montrose Environmental Group during the 1st quarter worth about $6,886,000. William Blair Investment Management LLC boosted its stake in shares of Montrose Environmental Group by 21.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company's stock worth $50,734,000 after purchasing an additional 414,272 shares during the period. Wellington Management Group LLP purchased a new position in shares of Montrose Environmental Group during the 4th quarter worth about $6,135,000. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Montrose Environmental Group by 44.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 656,814 shares of the company's stock worth $14,378,000 after purchasing an additional 202,541 shares during the period. 87.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MEG shares. Wall Street Zen raised shares of Montrose Environmental Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barclays started coverage on shares of Montrose Environmental Group in a research note on Friday, September 19th. They set an "overweight" rating and a $35.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 price target (up from $30.00) on shares of Montrose Environmental Group in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $27.76 on Monday. The stock has a market cap of $979.51 million, a price-to-earnings ratio of -18.38, a price-to-earnings-growth ratio of 2.76 and a beta of 1.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.78. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The firm has a 50-day moving average of $27.07 and a two-hundred day moving average of $21.29.

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.

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