Federated Hermes Inc. Decreases Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Federated Hermes Inc. decreased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,140,500 shares of the company's stock after selling 120,000 shares during the period. Federated Hermes Inc. owned approximately 3.78% of Montrose Environmental Group worth $36,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Mutual of America Capital Management LLC grew its holdings in shares of Montrose Environmental Group by 67.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 66,887 shares of the company's stock worth $2,149,000 after purchasing an additional 26,983 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Montrose Environmental Group by 25.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 41,300 shares of the company's stock worth $1,327,000 after purchasing an additional 8,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Montrose Environmental Group by 8.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,805 shares of the company's stock worth $411,000 after purchasing an additional 972 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Montrose Environmental Group by 182.2% in the fourth 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 during the last quarter. Finally, Legato Capital Management LLC bought a new position in shares of Montrose Environmental Group in the fourth quarter worth about $823,000. Institutional investors own 87.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stifel Nicolaus restated a "buy" rating and issued a $51.00 price target (up from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, March 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday, April 4th.

Montrose Environmental Group Stock Down 4.1 %

NYSE:MEG traded down $1.72 during mid-day trading on Friday, reaching $40.20. The company's stock had a trading volume of 553,227 shares, compared to its average volume of 312,891. Montrose Environmental Group, Inc. has a 1 year low of $21.96 and a 1 year high of $45.96. The stock has a fifty day moving average of $38.38 and a 200-day moving average of $32.46. The firm has a market capitalization of $1.23 billion, a PE ratio of -25.44 and a beta of 2.00. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.50.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. The company had revenue of $165.74 million during the quarter, compared to analyst estimates of $157.31 million. Equities research analysts forecast that Montrose Environmental Group, Inc. will post -0.16 earnings per share for the current year.

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.