JPMorgan Chase & Co. Cuts Stock Holdings in Ameresco, Inc. (NYSE:AMRC)

JPMorgan Chase & Co. lowered its holdings in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 37.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,420 shares of the utilities provider's stock after selling 20,902 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of Ameresco worth $1,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sei Investments Co. purchased a new position in Ameresco in the 2nd quarter valued at about $406,000. Marshall Wace LLP boosted its stake in shares of Ameresco by 102.6% in the second quarter. Marshall Wace LLP now owns 60,210 shares of the utilities provider's stock worth $1,735,000 after acquiring an additional 30,497 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Ameresco during the second quarter worth approximately $86,000. The Manufacturers Life Insurance Company raised its stake in Ameresco by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,374 shares of the utilities provider's stock valued at $356,000 after purchasing an additional 489 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in Ameresco by 113.3% in the 2nd quarter. Algert Global LLC now owns 119,183 shares of the utilities provider's stock valued at $3,434,000 after purchasing an additional 63,313 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Trading Up 0.1 %

Shares of NYSE:AMRC traded up $0.03 during midday trading on Friday, reaching $22.70. 264,017 shares of the company's stock were exchanged, compared to its average volume of 469,574. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 0.61 and a beta of 1.79. Ameresco, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $39.68. The firm's 50 day simple moving average is $25.32 and its two-hundred day simple moving average is $29.33. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Ameresco from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on shares of Ameresco from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, November 11th. Finally, StockNews.com upgraded Ameresco to a "sell" rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.90.

About Ameresco

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.