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

Other institutional investors and hedge funds have also bought and sold shares of the company. Bamco Inc. NY boosted its position in shares of Montrose Environmental Group by 84.5% during the 4th quarter. Bamco Inc. NY now owns 2,292,630 shares of the company's stock valued at $42,528,000 after acquiring an additional 1,050,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Montrose Environmental Group by 3.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,281,177 shares of the company's stock valued at $42,316,000 after acquiring an additional 67,280 shares in the last quarter. Bank of America Corp DE increased its stake in Montrose Environmental Group by 42.2% in the fourth quarter. Bank of America Corp DE now owns 1,819,010 shares of the company's stock valued at $33,743,000 after purchasing an additional 539,779 shares during the last quarter. Millennium Management LLC increased its stake in Montrose Environmental Group by 52.6% in the fourth quarter. Millennium Management LLC now owns 1,441,715 shares of the company's stock valued at $26,744,000 after purchasing an additional 496,661 shares during the last quarter. Finally, Royce & Associates LP grew its position in shares of Montrose Environmental Group by 167.5% during the first quarter. Royce & Associates LP now owns 852,849 shares of the company's stock worth $12,162,000 after acquiring an additional 533,986 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Montrose Environmental Group Price Performance

NYSE:MEG traded up $0.20 during mid-day trading on Thursday, reaching $28.09. 495,158 shares of the stock were exchanged, compared to its average volume of 502,346. The business has a fifty day moving average price of $22.77 and a 200 day moving average price of $19.07. The firm has a market capitalization of $991.15 million, a PE ratio of -18.60, a PEG ratio of 6.78 and a beta of 1.90. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year 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.

Montrose Environmental Group announced that its Board of Directors has approved a share buyback program on Wednesday, May 7th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Montrose Environmental Group Company 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.