DekaBank Deutsche Girozentrale Lowers Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

DekaBank Deutsche Girozentrale lowered its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 470,800 shares of the company's stock after selling 34,897 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 1.36% of Montrose Environmental Group worth $6,713,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Montrose Environmental Group during the fourth quarter valued at about $36,000. PNC Financial Services Group Inc. lifted its holdings in shares of Montrose Environmental Group by 42.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after buying an additional 1,898 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Montrose Environmental Group in the fourth quarter worth about $130,000. Radnor Capital Management LLC purchased a new stake in shares of Montrose Environmental Group in the first quarter worth about $147,000. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Montrose Environmental Group by 40.0% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 11,302 shares of the company's stock worth $210,000 after buying an additional 3,231 shares in the last quarter. Institutional investors own 87.87% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC increased their price target on shares of 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.80.

Montrose Environmental Group Price Performance

Shares of Montrose Environmental Group stock traded down $0.51 on Friday, reaching $23.07. The stock had a trading volume of 213,785 shares, compared to its average volume of 548,763. The business's 50 day moving average is $20.79 and its two-hundred day moving average is $18.69. The company has a market cap of $799.43 million, a P/E ratio of -9.94, a price-to-earnings-growth ratio of 8.07 and a beta of 1.90. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.58. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $40.84.

Montrose Environmental Group announced that its Board of Directors has authorized a share 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 repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.