Natixis Advisors LLC Makes New $254,000 Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Key Points

• Natixis Advisors LLC made a new investment of approximately $254,000 in Montrose Environmental Group, acquiring 17,846 shares in the first quarter of the year.
• Several other institutional investors have also increased their stakes in Montrose, with notable raises from Janney Montgomery Scott LLC (up 156.8%) and Rhumbline Advisers (up 4.3%).
• Recent analyst ratings have generally favored Montrose Environmental Group, with a consensus rating of "Moderate Buy" and an average price target of $32.00.

Natixis Advisors LLC purchased a new stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,846 shares of the company's stock, valued at approximately $254,000. Natixis Advisors LLC owned approximately 0.05% of Montrose Environmental Group as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Quarry LP bought a new position in shares of Montrose Environmental Group during the 4th quarter worth approximately $36,000. Radnor Capital Management LLC purchased a new position in Montrose Environmental Group in the first quarter worth $147,000. Corton Capital Inc. acquired a new position in shares of Montrose Environmental Group during the fourth quarter worth $277,000. Wells Fargo & Company MN increased its position in shares of Montrose Environmental Group by 47.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,474 shares of the company's stock worth $287,000 after purchasing an additional 4,966 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Montrose Environmental Group during the 4th quarter valued at $305,000. Hedge funds and other institutional investors own 87.87% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MEG shares. Needham & Company LLC restated a "buy" rating and set a $31.00 target price (up from $30.00) on shares of Montrose Environmental Group in a research note on Friday, August 8th. Wall Street Zen raised Montrose Environmental Group from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

Montrose Environmental Group Stock Performance

Shares of NYSE MEG traded down $0.05 during trading on Friday, reaching $28.03. 650,219 shares of the company traded hands, compared to its average volume of 516,011. Montrose Environmental Group, Inc. has a 12-month low of $10.51 and a 12-month high of $34.56. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.60. The stock has a market cap of $989.18 million, a P/E ratio of -18.56, a PEG ratio of 6.81 and a beta of 1.90. The firm's fifty day simple moving average is $23.05 and its 200 day simple moving average is $19.15.

Montrose Environmental Group declared that its board has initiated a stock repurchase plan on Wednesday, May 7th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.