Daiwa Securities Group Inc. Sells 73,900 Shares of Ameresco, Inc. (NYSE:AMRC)

Daiwa Securities Group Inc. lowered its stake in Ameresco, Inc. (NYSE:AMRC) by 46.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,900 shares of the utilities provider’s stock after selling 73,900 shares during the quarter. Daiwa Securities Group Inc. owned 0.17% of Ameresco worth $2,504,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Natixis purchased a new position in shares of Ameresco in the 1st quarter worth $480,000. Harbor Capital Advisors Inc. grew its stake in shares of Ameresco by 187.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock valued at $1,982,000 after purchasing an additional 44,882 shares during the period. Swedbank AB bought a new stake in shares of Ameresco during the 1st quarter valued at about $12,065,000. Connors Investor Services Inc. lifted its stake in shares of Ameresco by 35.4% in the 1st quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock worth $3,449,000 after purchasing an additional 37,368 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Ameresco in the first quarter worth approximately $1,009,000. Institutional investors own 99.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMRC. Piper Sandler reduced their target price on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Robert W. Baird restated an “outperform” rating and issued a $32.00 price objective on shares of Ameresco in a research note on Tuesday, August 27th. Jefferies Financial Group initiated coverage on Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 target price on the stock. UBS Group boosted their price target on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, B. Riley raised Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, five have given 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.69.

Ameresco Trading Up 3.2 %

Shares of AMRC opened at $34.28 on Friday. The firm has a market cap of $1.80 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. Ameresco, Inc. has a 1 year low of $17.55 and a 1 year high of $47.56. The company has a 50 day simple moving average of $29.77 and a two-hundred day simple moving average of $27.19.

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

Insider Activity

In related news, CFO Spencer Doran Hole sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.