Bank of New York Mellon Corp Buys 86,797 Shares of Altus Power, Inc. (NYSE:AMPS)

Bank of New York Mellon Corp boosted its position in Altus Power, Inc. (NYSE:AMPS - Free Report) by 48.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,220 shares of the company's stock after buying an additional 86,797 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.17% of Altus Power worth $1,088,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMPS. HighTower Advisors LLC bought a new stake in shares of Altus Power in the third quarter valued at approximately $41,000. Intech Investment Management LLC acquired a new position in Altus Power during the 3rd quarter valued at $86,000. Ballentine Partners LLC acquired a new position in Altus Power during the 4th quarter valued at $112,000. Janus Henderson Group PLC boosted its holdings in Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company's stock valued at $142,000 after purchasing an additional 3,709 shares during the period. Finally, SG Americas Securities LLC grew its position in Altus Power by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 36,058 shares of the company's stock worth $147,000 after purchasing an additional 5,912 shares during the last quarter. Institutional investors own 46.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a research report on Thursday, February 6th. Roth Mkm reissued a "neutral" rating and set a $5.00 price objective on shares of Altus Power in a report on Friday, March 21st. UBS Group lowered Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 target price for the company. in a research note on Monday, February 10th. Roth Capital downgraded shares of Altus Power from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Finally, B. Riley cut shares of Altus Power from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.13.

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Insiders Place Their Bets

In related news, CEO Gregg J. Felton sold 71,161 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the sale, the chief executive officer now directly owns 4,023,696 shares of the company's stock, valued at $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony Savino sold 8,823 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,146 shares of company stock valued at $437,707. 24.30% of the stock is currently owned by corporate insiders.

Altus Power Price Performance

Shares of NYSE AMPS traded up $0.01 during midday trading on Friday, reaching $4.95. 4,504,086 shares of the company traded hands, compared to its average volume of 1,598,037. The stock's 50-day simple moving average is $4.61 and its 200-day simple moving average is $3.99. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power, Inc. has a 12 month low of $2.71 and a 12 month high of $5.50. The firm has a market cap of $793.28 million, a PE ratio of 22.48 and a beta of 0.98.

Altus Power (NYSE:AMPS - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. As a group, equities analysts anticipate that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.