Connors Investor Services Inc. Raises Position in Ameresco, Inc. (NYSE:AMRC)

Connors Investor Services Inc. raised its holdings in shares of Ameresco, Inc. (NYSE:AMRC) by 35.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,915 shares of the utilities provider’s stock after buying an additional 37,368 shares during the period. Connors Investor Services Inc. owned about 0.27% of Ameresco worth $3,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Asset Management Holding S.A. bought a new position in Ameresco during the 4th quarter worth approximately $22,650,000. First Trust Advisors LP grew its holdings in shares of Ameresco by 59.9% in the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock worth $25,128,000 after purchasing an additional 297,236 shares during the last quarter. Trustees of Princeton University purchased a new position in shares of Ameresco in the fourth quarter worth $7,170,000. Rock Point Advisors LLC raised its holdings in Ameresco by 97.8% during the 4th quarter. Rock Point Advisors LLC now owns 255,312 shares of the utilities provider’s stock valued at $8,086,000 after buying an additional 126,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Ameresco by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock worth $28,890,000 after acquiring an additional 110,204 shares during the last quarter. 99.24% of the stock is owned by institutional investors.

Ameresco Stock Down 1.6 %

Shares of NYSE:AMRC traded down $0.50 on Friday, hitting $31.51. 2,166,015 shares of the company traded hands, compared to its average volume of 500,619. The company has a market cap of $1.65 billion, a PE ratio of 28.65, a PEG ratio of 0.91 and a beta of 1.78. The stock has a 50 day simple moving average of $31.57 and a 200-day simple moving average of $25.51. Ameresco, Inc. has a 52 week low of $17.55 and a 52 week high of $63.14. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. Ameresco’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. As a group, research analysts expect that Ameresco, Inc. will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMRC shares. Stifel Nicolaus dropped their target price on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Raymond James cut their price objective on Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Robert W. Baird upped their target price on Ameresco from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Truist Financial reduced their price objective on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Piper Sandler cut their target price on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.31.

Insider Activity at Ameresco

In other Ameresco news, CAO Mark Chiplock sold 3,000 shares of Ameresco stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total value of $105,000.00. Following the completion of the sale, the chief accounting officer now owns 348 shares of the company’s stock, valued at approximately $12,180. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 42.00% of the stock is currently owned by insiders.

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.