Montrose Environmental Group, Inc. (NYSE:MEG) Shares Bought by XTX Topco Ltd

XTX Topco Ltd boosted its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 163.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,475 shares of the company's stock after buying an additional 25,756 shares during the quarter. XTX Topco Ltd owned 0.12% of Montrose Environmental Group worth $769,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Montrose Environmental Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,802,551 shares of the company's stock valued at $33,437,000 after purchasing an additional 11,211 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Montrose Environmental Group by 175.0% during 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 purchasing an additional 934,938 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Montrose Environmental Group by 61.9% during the 4th quarter. Granite Investment Partners LLC now owns 846,834 shares of the company's stock valued at $15,709,000 after purchasing an additional 323,868 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Montrose Environmental Group by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 716,558 shares of the company's stock valued at $18,850,000 after purchasing an additional 23,356 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Montrose Environmental Group by 0.8% during the 3rd quarter. State Street Corp now owns 679,871 shares of the company's stock valued at $17,881,000 after purchasing an additional 5,687 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MEG has been the subject of several recent research reports. Needham & Company LLC cut their target price on shares of Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating for the company in a report on Friday, April 4th. Evercore ISI cut their price target 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.40.

Montrose Environmental Group Price Performance

NYSE MEG traded up $0.30 on Wednesday, hitting $14.74. The company had a trading volume of 60,927 shares, compared to its average volume of 541,813. The company has a market capitalization of $510.95 million, a PE ratio of -9.89 and a beta of 1.81. The company's fifty day moving average price is $15.73 and its 200-day moving average price is $19.12. 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 12-month low of $10.51 and a 12-month high of $49.97.

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.