Montrose Environmental Group (NYSE:MEG) Hits New 52-Week High at $48.15

Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $48.15 and last traded at $48.04, with a volume of 37308 shares. The stock had previously closed at $46.65.

Analyst Ratings Changes

MEG has been the topic of a number of recent research reports. Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday, May 9th. Stifel Nicolaus restated a "buy" rating and set a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their price target on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st.

Montrose Environmental Group Stock Up 1.7 %

The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -32.07 and a beta of 1.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.63 and a current ratio of 1.63. The business's 50 day moving average is $41.50 and its 200-day moving average is $34.53.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. The company had revenue of $165.74 million for the quarter, compared to the consensus estimate of $157.31 million. Montrose Environmental Group had a negative return on equity of 1.78% and a negative net margin of 4.55%. Equities analysts anticipate that Montrose Environmental Group, Inc. will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 12,500 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $46.51, for a total transaction of $581,375.00. Following the completion of the transaction, the chief executive officer now directly owns 316,637 shares in the company, valued at $14,726,786.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 11.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MEG. Benjamin F. Edwards & Company Inc. grew its position in Montrose Environmental Group by 453.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company's stock worth $53,000 after buying an additional 1,111 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company's stock worth $98,000 after purchasing an additional 1,971 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Montrose Environmental Group during the third quarter valued at approximately $109,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Montrose Environmental Group by 11.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company's stock valued at $187,000 after purchasing an additional 504 shares in the last quarter. Finally, Mainsail Asset Management LLC bought a new position in Montrose Environmental Group in the first quarter worth $217,000. Institutional investors own 87.87% of the company's stock.

Montrose Environmental Group Company 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.