Oppenheimer Asset Management Inc. Has $798,000 Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Oppenheimer Asset Management Inc. boosted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 39.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,328 shares of the company’s stock after acquiring an additional 8,562 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Montrose Environmental Group were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. raised its position in shares of Montrose Environmental Group by 1.0% in the 1st quarter. Sei Investments Co. now owns 49,339 shares of the company’s stock valued at $1,933,000 after buying an additional 485 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after buying an additional 586 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Montrose Environmental Group by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock valued at $514,000 after buying an additional 1,211 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Montrose Environmental Group by 16.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,285 shares of the company’s stock valued at $331,000 after buying an additional 1,320 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MEG shares. Needham & Company LLC dropped their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research report on Thursday, October 17th. Bank of America lowered shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Montrose Environmental Group Trading Down 5.9 %

Shares of Montrose Environmental Group stock opened at $17.77 on Tuesday. The firm has a market capitalization of $609.36 million, a PE ratio of -11.92 and a beta of 1.86. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $25.22 and its 200 day moving average is $34.42. Montrose Environmental Group, Inc. has a 1 year low of $17.63 and a 1 year 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.