Clean Yield Group cut its stake in shares of Ameresco Inc (NYSE:AMRC) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,350 shares of the utilities provider’s stock after selling 10,700 shares during the period. Clean Yield Group’s holdings in Ameresco were worth $896,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in Ameresco during the 4th quarter valued at $25,000. Advisor Group Inc. bought a new position in Ameresco during the 4th quarter valued at $75,000. Metropolitan Life Insurance Co. NY bought a new position in Ameresco during the 4th quarter valued at $99,000. MetLife Investment Advisors LLC bought a new position in Ameresco during the 4th quarter valued at $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Ameresco during the 4th quarter valued at $163,000. Institutional investors and hedge funds own 29.88% of the company’s stock.
AMRC has been the topic of several recent analyst reports. B. Riley restated a “buy” rating and set a $19.00 price objective on shares of Ameresco in a research note on Thursday, March 14th. Roth Capital upgraded Ameresco from a “neutral” rating to a “buy” rating and raised their price objective for the company from $16.00 to $19.00 in a research note on Monday, March 4th. Canaccord Genuity raised their price objective on Ameresco from $16.50 to $19.50 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Zacks Investment Research cut Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $18.50.
In other news, EVP David J. Corrsin sold 37,290 shares of Ameresco stock in a transaction on Friday, April 12th. The stock was sold at an average price of $16.52, for a total transaction of $616,030.80. Following the sale, the executive vice president now directly owns 1,053,338 shares in the company, valued at approximately $17,401,143.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David J. Corrsin sold 42,982 shares of Ameresco stock in a transaction on Monday, April 15th. The stock was sold at an average price of $16.52, for a total value of $710,062.64. Following the sale, the executive vice president now owns 1,053,338 shares in the company, valued at $17,401,143.76. The disclosure for this sale can be found here. Insiders have sold a total of 237,927 shares of company stock worth $3,843,755 over the last quarter. Company insiders own 57.93% of the company’s stock.
NYSE AMRC opened at $16.33 on Thursday. The firm has a market cap of $750.33 million, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.12 and a beta of 0.60. Ameresco Inc has a one year low of $11.00 and a one year high of $18.05. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 0.58.
Ameresco (NYSE:AMRC) last released its earnings results on Wednesday, March 6th. The utilities provider reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $227.53 million. Ameresco had a return on equity of 10.56% and a net margin of 4.83%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts forecast that Ameresco Inc will post 0.83 EPS for the current fiscal year.
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Ameresco Company Profile
Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.
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