Connor Clark & Lunn Investment Management Ltd. Buys Shares of 44,710 Montrose Environmental Group, Inc. (NYSE:MEG)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 44,710 shares of the company’s stock, valued at approximately $829,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of Montrose Environmental Group at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Montrose Environmental Group by 11.1% in the third quarter. FMR LLC now owns 352,264 shares of the company’s stock valued at $9,265,000 after buying an additional 35,314 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at approximately $6,801,000. Rockefeller Capital Management L.P. grew its position in shares of Montrose Environmental Group by 189.3% in the third quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock valued at $1,223,000 after purchasing an additional 30,437 shares during the last quarter. Barclays PLC grew its position in shares of Montrose Environmental Group by 375.0% in the third quarter. Barclays PLC now owns 53,575 shares of the company’s stock valued at $1,410,000 after purchasing an additional 42,297 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Montrose Environmental Group by 159.2% in the third quarter. JPMorgan Chase & Co. now owns 71,206 shares of the company’s stock valued at $1,873,000 after purchasing an additional 43,739 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MEG. Stifel Nicolaus lowered their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Finally, Evercore ISI lowered their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Montrose Environmental Group Stock Down 1.9 %

Shares of NYSE MEG opened at $14.59 on Friday. Montrose Environmental Group, Inc. has a 1 year low of $14.28 and a 1 year high of $49.97. The firm’s 50 day moving average price is $19.46 and its 200 day moving average price is $21.46. The firm has a market cap of $501.02 million, a P/E ratio of -9.79 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

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.