Guinness Asset Management LTD Lowers Position in Ameresco, Inc. (NYSE:AMRC)

Guinness Asset Management LTD trimmed its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511,530 shares of the utilities provider's stock after selling 47,211 shares during the quarter. Guinness Asset Management LTD owned about 0.98% of Ameresco worth $19,411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Ameresco during the second quarter worth $75,000. Point72 DIFC Ltd acquired a new stake in shares of Ameresco during the second quarter worth $86,000. GAMMA Investing LLC raised its stake in Ameresco by 1,215.2% in the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider's stock valued at $90,000 after purchasing an additional 2,880 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ameresco in the second quarter valued at about $156,000. Finally, Northside Capital Management LLC acquired a new position in Ameresco in the second quarter valued at about $216,000. 99.24% of the stock is owned by institutional investors.

Ameresco Trading Up 4.8 %

AMRC stock traded up $1.58 during trading on Friday, hitting $34.80. The company had a trading volume of 204,344 shares, compared to its average volume of 475,445. The business has a 50-day moving average of $32.03 and a 200-day moving average of $29.55. Ameresco, Inc. has a one year low of $17.55 and a one year high of $39.68. The stock has a market cap of $1.82 billion, a PE ratio of 31.64, a PEG ratio of 1.21 and a beta of 1.79. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15.

Ameresco (NYSE:AMRC - Get Free Report) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The business's revenue was up 33.9% on a year-over-year basis. Research analysts predict that Ameresco, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the transaction, the chief financial officer now directly owns 1,878 shares of the company's stock, valued at approximately $49,823.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMRC shares. Piper Sandler dropped their price target on Ameresco from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. B. Riley raised Ameresco to a "strong-buy" rating in a research note on Tuesday, June 25th. Jefferies Financial Group started coverage on Ameresco in a research note on Wednesday, September 4th. They issued a "hold" rating and a $33.00 price target for the company. StockNews.com raised Ameresco to a "sell" rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird boosted their price target on Ameresco from $32.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.46.

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.