Synovus Financial Corp Has $641,000 Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Synovus Financial Corp grew its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 327.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,388 shares of the company’s stock after acquiring an additional 18,681 shares during the period. Synovus Financial Corp’s holdings in Montrose Environmental Group were worth $641,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MEG. Calamos Advisors LLC acquired a new stake in shares of Montrose Environmental Group during the 2nd quarter valued at about $1,602,000. Bank of New York Mellon Corp lifted its holdings in shares of Montrose Environmental Group by 271.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 377,997 shares of the company’s stock valued at $16,844,000 after buying an additional 276,166 shares during the last quarter. Legato Capital Management LLC lifted its holdings in shares of Montrose Environmental Group by 4.9% during the 2nd quarter. Legato Capital Management LLC now owns 43,761 shares of the company’s stock valued at $1,950,000 after buying an additional 2,050 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Montrose Environmental Group by 28.8% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 44,828 shares of the company’s stock valued at $1,998,000 after buying an additional 10,029 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Montrose Environmental Group during the 2nd quarter valued at about $1,022,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Performance

Shares of NYSE MEG opened at $17.54 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $21.55 and its two-hundred day moving average is $30.12. The company has a market cap of $601.64 million, a P/E ratio of -11.77 and a beta of 1.71. Montrose Environmental Group, Inc. has a 12 month low of $15.21 and a 12 month high of $49.97.

Analyst Ratings Changes

Several brokerages have recently issued reports on MEG. Needham & Company LLC reduced their price target on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a report on Friday, November 8th. Stifel Nicolaus cut their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a research note on Thursday, October 17th. Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $29.00 in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Montrose Environmental Group 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.