Key Points
- Insider sale: Jose Revuelta sold 7,858 shares on March 9 at an average price of $27, totaling $212,166, trimming his stake by 2.84% to 269,282 shares.
- Recent results: Montrose beat quarterly estimates with $0.35 EPS (vs. $0.24) and $193.27M revenue (vs. $186.24M) while reporting slight negative net margin and a negative trailing P/E (-111.08).
- Market and analyst view: MEG has a market cap of about $959M, high institutional ownership (87.87%), and a consensus rating of Hold with an average target of $34.67.
Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction on Monday, March 9th. The stock was sold at an average price of $27.00, for a total value of $212,166.00. Following the completion of the transaction, the insider owned 269,282 shares in the company, valued at $7,270,614. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Montrose Environmental Group Trading Up 0.0%
Shares of NYSE MEG traded up $0.01 during mid-day trading on Thursday, hitting $26.66. 18,335 shares of the company traded hands, compared to its average volume of 380,973. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The stock has a market capitalization of $959.23 million, a price-to-earnings ratio of -111.08, a PEG ratio of 1.96 and a beta of 1.92. The business has a 50 day moving average of $24.26 and a two-hundred day moving average of $26.20.
Montrose Environmental Group (NYSE:MEG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $193.27 million for the quarter, compared to analysts' expectations of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.Montrose Environmental Group's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.90) EPS. On average, sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MEG shares. Wall Street Zen lowered shares of Montrose Environmental Group from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Needham & Company LLC raised 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. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $34.67.
Check Out Our Latest Research Report on Montrose Environmental Group
Institutional Trading of Montrose Environmental Group
Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company's stock worth $269,000 after acquiring an additional 780 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Montrose Environmental Group by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company's stock valued at $4,663,000 after purchasing an additional 92,671 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter valued at $266,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Montrose Environmental Group by 45.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,923 shares of the company's stock worth $1,158,000 after purchasing an additional 16,455 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Montrose Environmental Group by 13.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company's stock worth $139,000 after purchasing an additional 730 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.
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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