Toronto Dominion Bank Invests $2.51 Million in Montrose Environmental Group, Inc. (NYSE:MEG)

Toronto Dominion Bank acquired a new stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 135,056 shares of the company's stock, valued at approximately $2,505,000. Toronto Dominion Bank owned about 0.39% of Montrose Environmental Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in shares of Montrose Environmental Group in the fourth quarter valued at approximately $36,000. KBC Group NV grew its holdings in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after buying an additional 1,613 shares in the last quarter. PNC Financial Services Group Inc. lifted 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 in the last quarter. KLP Kapitalforvaltning AS bought a new position in Montrose Environmental Group in the 4th quarter valued at $130,000. Finally, Wrapmanager Inc. boosted its stake in Montrose Environmental Group by 12.8% during the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after buying an additional 1,150 shares during the period. 87.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Evercore ISI reduced their target price on 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 objective 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $31.80.

Montrose Environmental Group Stock Performance

MEG traded down $0.05 during midday trading on Wednesday, reaching $20.40. The company had a trading volume of 54,555 shares, compared to its average volume of 535,571. The business has a 50-day moving average of $15.47 and a two-hundred day moving average of $17.78. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $49.66. The company has a market cap of $706.97 million, a P/E ratio of -13.72 and a beta of 1.80.

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