Granahan Investment Management LLC Grows Stock Holdings in Ameresco, Inc. $AMRC

Granahan Investment Management LLC increased its position in shares of Ameresco, Inc. (NYSE:AMRC) by 108.4% in the third quarter, HoldingsChannel.com reports. The firm owned 890,072 shares of the utilities provider’s stock after acquiring an additional 462,875 shares during the quarter. Ameresco comprises 1.2% of Granahan Investment Management LLC’s holdings, making the stock its 25th largest position. Granahan Investment Management LLC’s holdings in Ameresco were worth $29,889,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Ameresco by 14.3% during the 2nd quarter. Legal & General Group Plc now owns 679,355 shares of the utilities provider’s stock worth $10,319,000 after buying an additional 84,960 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Ameresco by 1,832.5% in the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock valued at $26,965,000 after acquiring an additional 1,683,326 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Ameresco by 318.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,788 shares of the utilities provider’s stock worth $3,620,000 after acquiring an additional 82,015 shares in the last quarter. Swedbank AB purchased a new stake in Ameresco during the third quarter worth approximately $3,895,000. Finally, Caxton Associates LLP purchased a new stake in Ameresco during the second quarter worth approximately $2,300,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMRC. Canaccord Genuity Group upped their price target on Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wall Street Zen cut shares of Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Roth Mkm restated a “buy” rating on shares of Ameresco in a research report on Wednesday, December 3rd. Weiss Ratings cut shares of Ameresco from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ameresco in a research report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Ameresco Stock Down 5.9%

Shares of NYSE AMRC opened at $24.73 on Monday. The business has a 50-day moving average price of $30.82 and a 200 day moving average price of $32.43. The stock has a market cap of $1.31 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.94 and a beta of 2.53. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. Ameresco, Inc. has a 52-week low of $8.49 and a 52-week high of $44.93.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Ameresco had a return on equity of 4.49% and a net margin of 2.29%.The company had revenue of $581.03 million for the quarter, compared to analyst estimates of $556.09 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insider Activity

In other news, Director Nickolas Stavropoulos sold 15,700 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $34.15, for a total transaction of $536,155.00. Following the transaction, the director directly owned 14,111 shares in the company, valued at approximately $481,890.65. This trade represents a 52.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 17,020 shares of company stock worth $577,840 in the last 90 days. Company insiders own 44.96% of the company’s stock.

Ameresco Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.