Nordea Investment Management AB Purchases Shares of 55,879 Montrose Environmental Group, Inc. $MEG

Nordea Investment Management AB purchased a new position in Montrose Environmental Group, Inc. (NYSE:MEG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,879 shares of the company’s stock, valued at approximately $1,382,000. Nordea Investment Management AB owned approximately 0.16% of Montrose Environmental Group as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Montrose Environmental Group during the 3rd quarter valued at approximately $32,000. Canada Pension Plan Investment Board increased its holdings in Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after acquiring an additional 1,508 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Montrose Environmental Group by 13.0% during the second quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company’s stock valued at $139,000 after purchasing an additional 730 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in Montrose Environmental Group by 26.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,108 shares of the company’s stock valued at $177,000 after purchasing an additional 1,716 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Insider Activity at Montrose Environmental Group

In other Montrose Environmental Group news, insider Jose Revuelta sold 7,858 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.00, for a total transaction of $212,166.00. Following the completion of the transaction, the insider owned 269,282 shares of the company’s stock, valued at $7,270,614. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Thomas Presby sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $28.87, for a total value of $288,700.00. Following the transaction, the director owned 62,614 shares of the company’s stock, valued at approximately $1,807,666.18. The trade was a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 107,527 shares of company stock valued at $2,908,583. 11.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Montrose Environmental Group currently has an average rating of “Hold” and an average price target of $34.67.

Montrose Environmental Group Trading Down 5.9%

MEG stock opened at $21.06 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.43 and a quick ratio of 1.43. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $32.00. The business has a 50 day simple moving average of $23.78 and a two-hundred day simple moving average of $25.62. The company has a market capitalization of $761.74 million, a price-to-earnings ratio of -87.75, a PEG ratio of 1.54 and a beta of 1.92.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The firm had revenue of $193.27 million for the quarter, compared to analysts’ expectations of $186.24 million. During the same quarter last year, the business posted ($0.90) earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

Montrose Environmental Group Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.