Geode Capital Management LLC Acquires 5,443 Shares of Ameresco, Inc. (AMRC)

Geode Capital Management LLC lifted its stake in Ameresco, Inc. (NYSE:AMRC) by 4.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,680 shares of the utilities provider’s stock after buying an additional 5,443 shares during the quarter. Geode Capital Management LLC’s holdings in Ameresco were worth $895,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMRC. Wellington Management Group LLP grew its stake in shares of Ameresco by 491.4% in the first quarter. Wellington Management Group LLP now owns 476,068 shares of the utilities provider’s stock valued at $3,118,000 after buying an additional 395,566 shares in the last quarter. Rock Point Advisors LLC grew its stake in shares of Ameresco by 2.8% in the first quarter. Rock Point Advisors LLC now owns 826,877 shares of the utilities provider’s stock valued at $5,416,000 after buying an additional 22,295 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Ameresco by 7.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 42,480 shares of the utilities provider’s stock valued at $278,000 after buying an additional 2,880 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ameresco by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 121,189 shares of the utilities provider’s stock valued at $794,000 after buying an additional 773 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of Ameresco by 122.2% in the first quarter. Algert Global LLC now owns 22,619 shares of the utilities provider’s stock valued at $148,000 after buying an additional 12,440 shares in the last quarter. Institutional investors own 23.83% of the company’s stock.

A number of research analysts recently issued reports on AMRC shares. Zacks Investment Research upgraded Ameresco from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Monday, July 3rd. BidaskClub raised Ameresco from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Canaccord Genuity lifted their price target on Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Oppenheimer Holdings, Inc. set a $9.00 target price on Ameresco and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ameresco has a consensus rating of “Buy” and a consensus target price of $8.25.

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Shares of Ameresco, Inc. (NYSE:AMRC) traded down 0.3415% during trading on Friday, reaching $7.3249. The company had a trading volume of 52,035 shares. The stock has a market capitalization of $333.48 million, a price-to-earnings ratio of 24.3352 and a beta of 1.12. The stock has a 50 day moving average of $6.96 and a 200 day moving average of $6.65. Ameresco, Inc. has a 52-week low of $4.60 and a 52-week high of $7.85.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. Ameresco had a net margin of 2.16% and a return on equity of 5.23%. The firm had revenue of $166.70 million for the quarter, compared to analyst estimates of $162.53 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Ameresco, Inc. will post $0.42 EPS for the current year.

Ameresco Profile

Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.

Institutional Ownership by Quarter for Ameresco (NYSE:AMRC)

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