UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $33.91 Million Stock Position in Montrose Environmental Group, Inc. $MEG

Key Points

• UBS Asset Management increased its stake in Montrose Environmental Group by 4.3%, now owning approximately 6.86% of the company, equivalent to about $33.91 million.
• Several institutional investors have significantly increased their holdings, with AlphaQuest LLC boosting its shares by 569.3% in the first quarter of the year.
• Analysts show a positive outlook on the stock, with a consensus rating of "Moderate Buy" and an average price target of $32.00.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,378,212 shares of the company's stock after acquiring an additional 97,035 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 6.86% of Montrose Environmental Group worth $33,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Montrose Environmental Group during the 4th quarter valued at $305,000. Deutsche Bank AG grew its holdings in Montrose Environmental Group by 56.1% during the 4th quarter. Deutsche Bank AG now owns 31,850 shares of the company's stock valued at $591,000 after buying an additional 11,441 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Montrose Environmental Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,096 shares of the company's stock worth $336,000 after acquiring an additional 636 shares during the last quarter. Millennium Management LLC raised its position in shares of Montrose Environmental Group by 52.6% in the 4th quarter. Millennium Management LLC now owns 1,441,715 shares of the company's stock worth $26,744,000 after acquiring an additional 496,661 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Montrose Environmental Group by 13.4% in the fourth quarter. Point72 Asset Management L.P. now owns 36,000 shares of the company's stock worth $668,000 after buying an additional 4,243 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

Analysts Set New Price Targets

MEG has been the topic of a number of analyst reports. Barclays started coverage on Montrose Environmental Group in a research note on Friday. They issued an "overweight" rating and a $35.00 price target on the stock. Wall Street Zen upgraded shares of Montrose Environmental Group from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of Montrose Environmental Group in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Montrose Environmental Group currently has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Montrose Environmental Group Price Performance

Shares of MEG traded down $0.88 during midday trading on Friday, hitting $28.55. 917,053 shares of the company traded hands, compared to its average volume of 413,034. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a 50-day moving average of $26.50 and a 200-day moving average of $20.88. The firm has a market cap of $1.01 billion, a P/E ratio of -18.91, a PEG ratio of 2.93 and a beta of 1.84. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00.

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.