135,056 Shares in Montrose Environmental Group, Inc. (NYSE:MEG) Bought by Toronto Dominion Bank

Toronto Dominion Bank bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 135,056 shares of the company's stock, valued at approximately $2,505,000. Toronto Dominion Bank owned 0.39% of Montrose Environmental Group as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MEG. Quarry LP acquired a new stake in Montrose Environmental Group during the 4th quarter valued at $36,000. KBC Group NV raised its stake 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 purchasing an additional 1,613 shares during the period. PNC Financial Services Group Inc. raised its stake in Montrose Environmental Group by 42.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock valued at $118,000 after purchasing an additional 1,898 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Montrose Environmental Group during the 4th quarter valued at $130,000. Finally, Wrapmanager Inc. grew its holdings in shares of Montrose Environmental Group by 12.8% during the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after acquiring an additional 1,150 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MEG has been the topic of several research analyst reports. Evercore ISI lowered their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Needham & Company LLC boosted their price target on shares of Montrose Environmental Group from $28.00 to $30.00 and gave the company 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 issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.80.

Montrose Environmental Group Stock Up 5.6%

NYSE:MEG traded up $1.08 during trading hours on Tuesday, reaching $20.33. The company's stock had a trading volume of 286,093 shares, compared to its average volume of 535,724. The company has a market cap of $704.55 million, a price-to-earnings ratio of -13.71 and a beta of 1.80. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $49.66. The business's 50-day moving average is $15.36 and its 200-day moving average is $17.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93.

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

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.