Montrose Environmental Group (NYSE:MEG) CEO Sells $1,171,934.61 in Stock

by · The Markets Daily

Montrose Environmental Group, Inc. (NYSE:MEG – Get Free Report) CEO Vijay Manthripragada sold 46,121 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the sale, the chief executive officer directly owned 236,788 shares of the company’s stock, valued at $6,016,783.08. The trade was a 16.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Montrose Environmental Group Stock Performance

MEG stock traded down $1.38 during midday trading on Monday, reaching $23.53. 257,855 shares of the company’s stock traded hands, compared to its average volume of 389,405. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. The stock has a market cap of $846.54 million, a P/E ratio of -98.03, a PEG ratio of 1.82 and a beta of 1.91. Montrose Environmental Group, Inc. has a 52-week low of $10.51 and a 52-week high of $32.00. The stock’s 50-day moving average is $24.29 and its 200 day moving average is $26.11.

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

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Montrose Environmental Group has an average rating of “Hold” and a consensus target price of $34.67.

View Our Latest Analysis on Montrose Environmental Group

Institutional Investors Weigh In On Montrose Environmental Group

A number of hedge funds have recently bought and sold shares of MEG. Advisory Services Network LLC purchased a new stake in Montrose Environmental Group during the third quarter valued at $32,000. Canada Pension Plan Investment Board increased its stake in Montrose Environmental Group by 533.3% during the second 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 during the last quarter. Tower Research Capital LLC TRC raised its position in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Montrose Environmental Group during the fourth quarter valued at approximately $75,000. Finally, Assetmark Inc. bought a new stake in shares of Montrose Environmental Group in the 4th quarter valued at approximately $84,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

(Get Free Report)

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.

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