Montrose Environmental Group, Inc. (NYSE:ONT – Get Free Report) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $32.3333.
ONT has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price target on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Zacks Research lowered shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th.
Read Our Latest Stock Analysis on ONT
Montrose Environmental Group Price Performance
Montrose Environmental Group (NYSE:ONT – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $193.27 million during the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) earnings per share. Equities research analysts predict that Montrose Environmental Group will post 0.57 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Jose Revuelta sold 7,858 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.00, for a total value of $212,166.00. Following the completion of the sale, the insider directly owned 269,282 shares of the company’s stock, valued at $7,270,614. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vijay Manthripragada sold 46,121 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares of the company’s stock, valued at $6,016,783.08. This trade represents a 16.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 107,527 shares of company stock valued at $2,908,583 over the last ninety days. Insiders own 10.40% of the company’s stock.
Institutional Investors Weigh In On Montrose Environmental Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in shares of Montrose Environmental Group in the third quarter worth $32,000. Canada Pension Plan Investment Board grew its stake in shares of Montrose Environmental Group by 533.3% in 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. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Montrose Environmental Group in the fourth quarter worth $75,000. Tower Research Capital LLC TRC grew its stake in shares of Montrose Environmental Group by 95.6% in the second 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 last quarter. Finally, Assetmark Inc. acquired a new stake in shares of Montrose Environmental Group in the fourth quarter worth $84,000. Institutional investors and hedge funds own 87.87% of the company’s stock.
About Montrose Environmental Group
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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