Ameresco, Inc. (NYSE:AMRC) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,430 shares of the utilities provider's stock after purchasing an additional 229,128 shares during the quarter. DnB Asset Management AS owned approximately 1.17% of Ameresco worth $14,403,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Cetera Trust Company N.A increased its stake in shares of Ameresco by 6.9% during the fourth 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 period. Bank of New York Mellon Corp lifted its position in Ameresco by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider's stock valued at $2,389,000 after acquiring an additional 859 shares during the last quarter. Nicola Wealth Management LTD. boosted its stake in Ameresco by 3.8% in the fourth quarter. Nicola Wealth Management LTD. now owns 55,000 shares of the utilities provider's stock valued at $1,291,000 after acquiring an additional 2,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Ameresco by 1,294.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider's stock worth $93,000 after purchasing an additional 2,279 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Ameresco by 31.5% during the fourth quarter. Intech Investment Management LLC now owns 12,447 shares of the utilities provider's stock worth $292,000 after purchasing an additional 2,983 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMRC. Robert W. Baird dropped their price target on Ameresco from $42.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus cut their target price on shares of Ameresco from $34.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. UBS Group cut Ameresco from a "buy" rating to a "sell" rating and dropped their price target for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group decreased their price objective on Ameresco from $36.00 to $27.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.63.

Ameresco Price Performance

AMRC traded up $0.09 on Wednesday, hitting $12.11. 129,750 shares of the company were exchanged, compared to its average volume of 482,822. Ameresco, Inc. has a fifty-two week low of $9.04 and a fifty-two week high of $39.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a market capitalization of $636.27 million, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 0.49 and a beta of 2.07. The business's fifty day moving average is $16.27 and its 200 day moving average is $24.64.

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

Insider Activity

In related news, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the transaction, the director now directly owns 17,225 shares in the company, valued at $362,758.50. The trade was a 69.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George P. Sakellaris bought 50,000 shares of Ameresco stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $9.96 per share, for a total transaction of $498,000.00. Following the purchase, the chief executive officer now owns 903,638 shares in the company, valued at $9,000,234.48. This represents a 5.86 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. Company insiders own 42.00% of the company's stock.

Ameresco 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.