JPMorgan Chase & Co. Sells 43,622 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

JPMorgan Chase & Co. lessened its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 61.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,584 shares of the company's stock after selling 43,622 shares during the period. JPMorgan Chase & Co. owned approximately 0.08% of Montrose Environmental Group worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. KBC Group NV boosted its stake in shares of 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 purchasing an additional 1,613 shares in the last quarter. Avanza Fonder AB acquired a new position in Montrose Environmental Group in the 4th quarter worth about $105,000. PNC Financial Services Group Inc. raised its position in Montrose Environmental Group by 42.5% in the fourth 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 last quarter. KLP Kapitalforvaltning AS bought a new position in Montrose Environmental Group in the fourth quarter valued at about $130,000. Finally, Wrapmanager Inc. boosted its stake in shares of 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 purchasing an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Trading Up 4.9 %

Shares of MEG traded up $0.72 during trading hours on Friday, hitting $15.50. 296,687 shares of the stock were exchanged, compared to its average volume of 527,699. The firm has a market capitalization of $537.29 million, a P/E ratio of -10.40 and a beta of 1.80. 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, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $49.97. The business has a 50-day moving average of $15.24 and a 200-day moving average of $18.74.

Wall Street Analyst Weigh In

MEG has been the subject of a number of research reports. Evercore ISI dropped their price objective on shares of Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Needham & Company LLC reduced their price objective on shares of Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Two 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, Montrose Environmental Group presently has a consensus rating of "Moderate Buy" and an average price target of $31.40.

About Montrose Environmental Group

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.