JPMorgan Chase & Co. Decreases Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

JPMorgan Chase & Co. decreased its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 61.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,584 shares of the company's stock after selling 43,622 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Montrose Environmental Group worth $512,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Summit Creek Advisors LLC grew its position in shares of Montrose Environmental Group by 49.4% in the 4th quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company's stock valued at $10,716,000 after buying an additional 190,992 shares during the last quarter. Vanguard Group Inc. grew its position in Montrose Environmental Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,802,551 shares of the company's stock valued at $33,437,000 after buying an additional 11,211 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Montrose Environmental Group during the fourth quarter worth about $130,000. Quantbot Technologies LP purchased a new position in Montrose Environmental Group during the fourth quarter worth about $384,000. Finally, William Blair Investment Management LLC lifted its holdings in shares of Montrose Environmental Group by 175.0% in the 4th quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company's stock valued at $27,255,000 after buying an additional 934,938 shares during the period. Institutional investors and hedge funds own 87.87% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MEG shares. Needham & Company LLC reduced their price target 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. Evercore ISI decreased 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 research note on Monday, February 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.40.

Montrose Environmental Group Trading Up 0.3 %

MEG stock traded up $0.04 during trading on Tuesday, reaching $15.22. 219,271 shares of the stock traded hands, compared to its average volume of 526,221. The firm has a market capitalization of $527.66 million, a PE ratio of -10.22 and a beta of 1.80. Montrose Environmental Group, Inc. has a 52-week low of $10.51 and a 52-week high of $49.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The business's 50 day moving average price is $15.03 and its 200-day moving average price is $18.52.

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.