Intech Investment Management LLC Raises Stock Position in Altus Power, Inc. (NYSE:AMPS)

Intech Investment Management LLC raised its holdings in Altus Power, Inc. (NYSE:AMPS) by 72.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,604 shares of the company’s stock after purchasing an additional 19,501 shares during the quarter. Intech Investment Management LLC’s holdings in Altus Power were worth $190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Magnus Financial Group LLC purchased a new stake in shares of Altus Power in the fourth quarter worth about $333,000. Barclays PLC lifted its holdings in Altus Power by 312.8% in the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after acquiring an additional 87,886 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Altus Power during the 4th quarter worth approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Altus Power by 798.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,508 shares of the company’s stock valued at $234,000 after purchasing an additional 65,327 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Altus Power in the 3rd quarter valued at $425,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Altus Power Price Performance

Shares of Altus Power stock opened at $4.95 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $3.99. The stock has a market capitalization of $793.28 million, a P/E ratio of 22.48 and a beta of 0.98. Altus Power, Inc. has a 12 month low of $2.71 and a 12 month high of $5.50.

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

Wall Street Analyst Weigh In

Several analysts recently commented on AMPS shares. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday, February 6th. Roth Mkm restated a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research report on Friday, March 21st. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $6.00 to $5.00 in a report on Friday, February 7th. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Monday, February 10th. Finally, Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.13.

Insider Buying and Selling

In related news, CFO Dustin Weber sold 9,162 shares of Altus Power stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $44,985.42. Following the transaction, the chief financial officer now owns 2,002,611 shares in the company, valued at approximately $9,832,820.01. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the sale, the insider now owns 4,088,231 shares of the company’s stock, 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 three months, insiders have sold 89,146 shares of company stock worth $437,707. 24.30% of the stock is owned by insiders.

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.