Norges Bank Invests $1.70 Million in Ameresco, Inc. (NYSE:AMRC)

Norges Bank bought a new position in Ameresco, Inc. (NYSE:AMRC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 72,357 shares of the utilities provider's stock, valued at approximately $1,699,000. Norges Bank owned 0.14% of Ameresco at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMRC. KLP Kapitalforvaltning AS purchased a new stake in Ameresco in the fourth quarter worth about $146,000. Cetera Trust Company N.A grew its stake in shares of Ameresco by 6.9% in the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider's stock worth $160,000 after buying an additional 440 shares during the last quarter. FMR LLC increased its position in Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider's stock valued at $203,000 after buying an additional 3,855 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Ameresco during the fourth quarter valued at $259,000. Finally, Intech Investment Management LLC boosted its holdings in Ameresco by 31.5% in the fourth quarter. Intech Investment Management LLC now owns 12,447 shares of the utilities provider's stock worth $292,000 after acquiring an additional 2,983 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMRC shares. Robert W. Baird restated a "neutral" rating and set a $13.00 price target (down from $25.00) on shares of Ameresco in a report on Tuesday. Stifel Nicolaus reduced their price objective on shares of Ameresco from $34.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. UBS Group downgraded shares of Ameresco from a "buy" rating to a "sell" rating and dropped their target price for the stock from $37.00 to $8.00 in a research note on Tuesday, March 4th. Baird R W downgraded shares of Ameresco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Canaccord Genuity Group lowered their price objective on Ameresco from $36.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.86.

Remove Ads

Insider Activity at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the transaction, the director now owns 17,225 shares of the company's stock, valued at $362,758.50. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George P. Sakellaris acquired 50,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $9.96 per share, with a total value of $498,000.00. Following the completion of the purchase, the chief executive officer now owns 903,638 shares in the company, valued at $9,000,234.48. This trade represents a 5.86 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. 42.00% of the stock is currently owned by company insiders.

Ameresco Stock Performance

Shares of AMRC stock traded up $0.77 on Wednesday, reaching $10.35. The stock had a trading volume of 741,063 shares, compared to its average volume of 488,901. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. Ameresco, Inc. has a 1 year low of $9.00 and a 1 year high of $39.68. The stock has a market cap of $543.80 million, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 0.49 and a beta of 2.02. The company has a 50 day simple moving average of $13.53 and a 200 day simple moving average of $22.60.

Ameresco (NYSE:AMRC - Get Free Report) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The business had revenue of $532.67 million for the quarter, compared to analysts' expectations of $524.31 million. Equities research analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

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.