Raymond James & Associates raised its holdings in shares of Ameresco, Inc. (NYSE:AMRC – Get Rating) by 370.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,489 shares of the utilities provider’s stock after acquiring an additional 14,562 shares during the period. Raymond James & Associates’ holdings in Ameresco were worth $1,056,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Ergoteles LLC bought a new stake in Ameresco during the 3rd quarter valued at $729,000. Otter Creek Advisors LLC raised its stake in shares of Ameresco by 989.6% in the 4th quarter. Otter Creek Advisors LLC now owns 59,808 shares of the utilities provider’s stock worth $3,417,000 after buying an additional 54,319 shares in the last quarter. Algert Global LLC raised its stake in shares of Ameresco by 48.6% in the 3rd quarter. Algert Global LLC now owns 38,047 shares of the utilities provider’s stock worth $2,529,000 after buying an additional 12,441 shares in the last quarter. Robeco Schweiz AG bought a new stake in shares of Ameresco in the 4th quarter worth $2,971,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Ameresco by 45.1% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 239,744 shares of the utilities provider’s stock worth $13,699,000 after buying an additional 74,502 shares in the last quarter. Institutional investors own 57.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on AMRC shares. Piper Sandler raised Ameresco from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $57.00 to $64.00 in a research note on Friday, March 10th. Bank of America decreased their target price on Ameresco from $59.00 to $53.00 in a report on Thursday, May 18th. EF Hutton Acquisition Co. I decreased their target price on Ameresco from $86.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Craig Hallum decreased their target price on Ameresco from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Finally, UBS Group began coverage on Ameresco in a report on Tuesday, May 2nd. They set a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.07.
Insider Buying and Selling
In related news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $213,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 41.88% of the stock is owned by corporate insiders.
Ameresco Trading Up 4.1 %
AMRC stock opened at $45.98 on Friday. Ameresco, Inc. has a 1-year low of $39.62 and a 1-year high of $76.54. The firm has a market cap of $2.40 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.03 and a beta of 1.27. The business’s 50 day moving average is $44.19 and its 200-day moving average is $52.16. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.71.
Ameresco (NYSE:AMRC – Get Rating) last released its quarterly earnings data on Monday, May 1st. The utilities provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ameresco had a net margin of 4.85% and a return on equity of 9.74%. The company had revenue of $271.04 million during the quarter, compared to the consensus estimate of $231.61 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was down 42.8% on a year-over-year basis. Equities analysts anticipate that Ameresco, Inc. will post 1.8 earnings per share for the current fiscal year.
Ameresco Company Profile
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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.
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