BNP Paribas Financial Markets Purchases New Position in Montrose Environmental Group, Inc. (NYSE:MEG)

BNP Paribas Financial Markets bought a new position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,436 shares of the company's stock, valued at approximately $305,000.

Other large investors also recently modified their holdings of the company. Quarry LP acquired a new position in Montrose Environmental Group during the 4th quarter valued at about $36,000. KBC Group NV increased its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock worth $54,000 after purchasing an additional 1,613 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after purchasing an additional 1,898 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Montrose Environmental Group in the 4th quarter valued at approximately $130,000. Finally, Wrapmanager Inc. raised its holdings in shares of Montrose Environmental Group by 12.8% in the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after purchasing an additional 1,150 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock traded down $0.20 during trading on Friday, hitting $19.56. The stock had a trading volume of 283,583 shares, compared to its average volume of 536,819. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $49.66. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average is $15.67 and its two-hundred day moving average is $17.78. The stock has a market cap of $678.03 million, a price-to-earnings ratio of -13.13 and a beta of 1.80.

Montrose Environmental Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 7th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Evercore ISI decreased 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 research note on Monday, February 10th. Needham & Company LLC boosted their price target on Montrose Environmental Group from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $31.80.

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.