LGT Group Foundation Takes Position in Ameresco, Inc. (NYSE:AMRC)

LGT Group Foundation purchased a new stake in Ameresco, Inc. (NYSE:AMRC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 705,479 shares of the utilities provider’s stock, valued at approximately $20,325,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMRC. Quest Partners LLC acquired a new position in shares of Ameresco in the fourth quarter valued at about $62,000. nVerses Capital LLC purchased a new position in Ameresco during the 2nd quarter worth approximately $75,000. GAMMA Investing LLC lifted 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 valued at $90,000 after acquiring an additional 2,880 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ameresco in the 2nd quarter valued at $156,000. Finally, Northside Capital Management LLC purchased a new position in shares of Ameresco during the second quarter worth $216,000. 99.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AMRC. UBS Group upped their price target on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird restated an “outperform” rating and issued a $32.00 price objective on shares of Ameresco in a research report on Tuesday, August 27th. Jefferies Financial Group initiated coverage on shares of Ameresco in a report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Saturday, August 17th. Finally, Piper Sandler decreased their price objective on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ameresco has an average rating of “Moderate Buy” and a consensus target price of $37.69.

Insider Buying and Selling

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were 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 in the company, valued at approximately $49,823.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 42.00% of the stock is currently owned by company insiders.

Ameresco Price Performance

NYSE:AMRC traded down $0.04 during trading hours on Monday, hitting $29.37. 16,077 shares of the stock were exchanged, compared to its average volume of 499,959. The company has a market cap of $1.54 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.02 and a beta of 1.78. The firm’s fifty day moving average price is $29.37 and its 200 day moving average price is $26.96. Ameresco, Inc. has a 52-week low of $17.55 and a 52-week high of $47.56. 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) last released its 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%. Ameresco’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. As a group, equities research analysts anticipate that Ameresco, Inc. will post 1.16 EPS for the current fiscal year.

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.