UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $42.32 Million Position in Montrose Environmental Group, Inc. (NYSE:MEG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,281,177 shares of the company's stock after acquiring an additional 67,280 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 6.65% of Montrose Environmental Group worth $42,316,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Montrose Environmental Group in the fourth quarter worth $36,000. KBC Group NV increased its stake in Montrose Environmental Group by 126.5% in 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 during the last quarter. PNC Financial Services Group Inc. increased 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 valued at $118,000 after buying an additional 1,898 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Montrose Environmental Group during the 4th quarter worth about $130,000. Finally, Wrapmanager Inc. boosted its stake 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 worth $187,000 after buying an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Stock Performance

Shares of MEG traded down $0.12 during midday trading on Wednesday, reaching $20.33. The stock had a trading volume of 396,219 shares, compared to its average volume of 538,063. The firm has a market cap of $704.55 million, a PE ratio of -13.64 and a beta of 1.80. The firm has a 50 day simple moving average of $15.47 and a 200-day simple moving average of $17.78. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $49.66. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

Montrose Environmental Group declared that its Board of Directors has approved a stock buyback program on Wednesday, May 7th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to repurchase 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.

Analysts Set New Price Targets

A number of research firms recently issued reports on MEG. Evercore ISI lowered their target price on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Needham & Company LLC raised their price target on Montrose Environmental Group from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.80.

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.