Holcombe Financial Inc. Invests $608,000 in Montrose Environmental Group, Inc. (NYSE:MEG)

Holcombe Financial Inc. acquired a new stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 32,785 shares of the company's stock, valued at approximately $608,000. Montrose Environmental Group makes up approximately 0.5% of Holcombe Financial Inc.'s holdings, making the stock its 18th biggest position. Holcombe Financial Inc. owned 0.10% of Montrose Environmental Group as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Montrose Environmental Group by 375.0% during the 3rd quarter. Barclays PLC now owns 53,575 shares of the company's stock valued at $1,410,000 after purchasing an additional 42,297 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Montrose Environmental Group by 159.2% in the third quarter. JPMorgan Chase & Co. now owns 71,206 shares of the company's stock valued at $1,873,000 after acquiring an additional 43,739 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Montrose Environmental Group in the 4th quarter worth approximately $322,000. New York State Common Retirement Fund grew its position in Montrose Environmental Group by 54.7% during the 4th quarter. New York State Common Retirement Fund now owns 64,009 shares of the company's stock worth $1,187,000 after acquiring an additional 22,621 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Montrose Environmental Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company's stock valued at $4,926,000 after purchasing an additional 1,831 shares in the last quarter. 87.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MEG. Evercore ISI decreased their target price on 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 lowered their price objective on shares of Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.40.

Montrose Environmental Group Trading Up 1.5 %

NYSE:MEG traded up $0.21 on Wednesday, hitting $14.65. 103,986 shares of the stock were exchanged, compared to its average volume of 524,635. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $49.97. The stock has a market capitalization of $507.83 million, a price-to-earnings ratio of -9.83 and a beta of 1.81. The company's 50-day moving average price is $15.73 and its 200 day moving average price is $19.12.

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.