Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 2.14MM shares of Montrose Environmental Group Inc (MEG). This represents 7.2% of the company.
In their previous filing dated February 4, 2022 they reported 2.05MM shares and 6.90% of the company, an increase in shares of 4.79% and an increase in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 7.64% Upside
As of January 31, 2023, the average one-year price target for Montrose Environmental Group is $56.61. The forecasts range from a low of $47.47 to a high of $76.65. The average price target represents an increase of 7.64% from its latest reported closing price of $52.59.
The projected annual revenue for Montrose Environmental Group is $591MM, an increase of 7.75%. The projected annual EPS is $-0.85.
Fund Sentiment
There are 303 funds or institutions reporting positions in Montrose Environmental Group. This is a decrease of 6 owner(s) or 1.94%.
Average portfolio weight of all funds dedicated to US:MEG is 0.2653%, an increase of 8.7547%. Total shares owned by institutions decreased in the last three months by 0.05% to 35,056K shares.
What are large shareholders doing?
Fred Alger Management holds 3,216,709 shares representing 10.83% ownership of the company. In it's prior filing, the firm reported owning 3,374,103 shares, representing a decrease of 4.89%. The firm decreased its portfolio allocation in MEG by 6.91% over the last quarter.
Capital Research Global Investors holds 1,972,095 shares representing 6.64% ownership of the company. No change in the last quarter.
Ubs Asset Management Americas holds 1,775,120 shares representing 5.97% ownership of the company. In it's prior filing, the firm reported owning 1,848,185 shares, representing a decrease of 4.12%. The firm decreased its portfolio allocation in MEG by 85.14% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 1,623,909 shares representing 5.47% ownership of the company. No change in the last quarter.
Champlain Investment Partners holds 1,247,570 shares representing 4.20% ownership of the company. In it's prior filing, the firm reported owning 1,261,075 shares, representing a decrease of 1.08%. The firm increased its portfolio allocation in MEG by 4.15% over the last quarter.
Montrose Environmental Group Background Information
(This description is provided by the company.)
Montrose is a leading environmental services company focused on supporting commercial and government organizations as they deal with the challenges of today, and prepare for what's coming tomorrow. With 1,700 employees across 70 locations around the world, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling the Company to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs - and well ahead of the strategic curve.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
