Algert Global LLC Raises Stock Position in Ameresco, Inc. (NYSE:AMRC)

Algert Global LLC increased its stake in Ameresco, Inc. (NYSE:AMRC) by 113.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,183 shares of the utilities provider’s stock after acquiring an additional 63,313 shares during the quarter. Algert Global LLC’s holdings in Ameresco were worth $3,434,000 at the end of the most recent reporting period.

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

Ameresco Stock Down 1.7 %

Shares of NYSE:AMRC opened at $37.94 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market capitalization of $1.99 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.78. The firm’s 50-day moving average is $31.28 and its two-hundred day moving average is $28.69. Ameresco, Inc. has a 1 year low of $17.55 and a 1 year high of $39.68.

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

Insiders Place Their Bets

In related news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 5,221 shares of company stock worth $140,814 over the last three months. Company insiders own 42.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Ameresco to a “sell” rating in a research note on Saturday, August 17th. Robert W. Baird boosted their price target on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group assumed coverage on shares of Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. Piper Sandler lowered their price target on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, UBS Group boosted their price target on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.