West Oak Capital LLC Cuts Stock Position in Ameresco, Inc. (NYSE:AMRC)

West Oak Capital LLC cut its stake in shares of Ameresco, Inc. (NYSE:AMRC) by 50.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,225 shares of the utilities provider’s stock after selling 14,520 shares during the quarter. West Oak Capital LLC’s holdings in Ameresco were worth $451,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMRC. Vanguard Group Inc. boosted its holdings in Ameresco by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,992,738 shares of the utilities provider’s stock worth $198,956,000 after acquiring an additional 179,495 shares during the period. Handelsbanken Fonder AB boosted its stake in Ameresco by 5.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock valued at $107,181,000 after acquiring an additional 150,000 shares during the last quarter. BlackRock Inc. grew its position in shares of Ameresco by 3.8% in the 3rd quarter. BlackRock Inc. now owns 2,516,621 shares of the utilities provider’s stock worth $167,305,000 after acquiring an additional 92,278 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Ameresco by 1.9% in the 1st quarter. Macquarie Group Ltd. now owns 1,215,729 shares of the utilities provider’s stock worth $59,838,000 after buying an additional 23,123 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Ameresco by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after purchasing an additional 176,971 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMRC. Canaccord Genuity Group reduced their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Piper Sandler lowered their target price on Ameresco from $42.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. B. Riley decreased their target price on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, February 5th. BNP Paribas raised Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Tuesday, March 12th. Finally, Guggenheim restated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.92.

Ameresco Stock Performance

Ameresco stock traded up $0.58 during mid-day trading on Thursday, reaching $23.32. 114,639 shares of the stock traded hands, compared to its average volume of 537,917. The business’s 50-day moving average is $21.32 and its 200-day moving average is $28.10. The stock has a market capitalization of $1.22 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.66 and a beta of 1.54. Ameresco, Inc. has a 12-month low of $17.55 and a 12-month high of $63.19. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24.

Ameresco (NYSE:AMRC) last released its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The company had revenue of $441.40 million for the quarter, compared to analysts’ expectations of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. Ameresco’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, sell-side analysts predict that Ameresco, Inc. will post 1.4 EPS for the current fiscal year.

Ameresco Company 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.