Erste Asset Management GmbH Makes New Investment in Ameresco, Inc. (NYSE:AMRC)

Erste Asset Management GmbH bought a new position in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 163,713 shares of the utilities provider's stock, valued at approximately $6,319,000. Erste Asset Management GmbH owned about 0.31% of Ameresco at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Ameresco by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider's stock valued at $75,909,000 after acquiring an additional 36,303 shares in the last quarter. LGT Group Foundation bought a new position in Ameresco in the second quarter valued at approximately $20,325,000. Point72 Asset Management L.P. acquired a new position in shares of Ameresco during the 2nd quarter worth approximately $10,821,000. DekaBank Deutsche Girozentrale increased its position in shares of Ameresco by 3,389.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider's stock worth $7,124,000 after purchasing an additional 179,635 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Ameresco by 190.4% during the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the utilities provider's stock worth $5,309,000 after purchasing an additional 120,833 shares in the last quarter. Institutional investors own 99.24% of the company's stock.

Ameresco Stock Performance

Shares of AMRC traded down $0.54 during midday trading on Tuesday, reaching $28.17. 253,552 shares of the stock were exchanged, compared to its average volume of 412,025. The stock's 50 day simple moving average is $31.22 and its 200 day simple moving average is $31.29. The company has a market cap of $1.48 billion, a P/E ratio of 28.17, a PEG ratio of 0.99 and a beta of 1.76. Ameresco, Inc. has a twelve month low of $17.55 and a twelve month high of $39.68. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Ameresco from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, September 5th. Robert W. Baird boosted their price objective on shares of Ameresco from $32.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. Stifel Nicolaus upped their target price on shares of Ameresco from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, November 11th. Piper Sandler lifted their price target on Ameresco from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded Ameresco to a "sell" rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.91.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.