First Trust Advisors LP Boosts Stake in Ameresco, Inc. (NYSE:AMRC)

Posted by on May 23rd, 2023

First Trust Advisors LP raised its stake in shares of Ameresco, Inc. (NYSE:AMRC – Get Rating) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,024 shares of the utilities provider’s stock after purchasing an additional 27,550 shares during the period. First Trust Advisors LP owned 0.52% of Ameresco worth $15,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Ameresco by 77.9% during the fourth quarter. Van ECK Associates Corp now owns 514 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Lazard Asset Management LLC purchased a new stake in Ameresco during the first quarter valued at approximately $50,000. Advisors Asset Management Inc. raised its position in Ameresco by 1,878.8% during the third quarter. Advisors Asset Management Inc. now owns 1,029 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 977 shares during the period. RFP Financial Group LLC purchased a new stake in Ameresco during the fourth quarter valued at approximately $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Ameresco during the fourth quarter valued at approximately $105,000. 57.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $213,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 41.88% of the company’s stock.

Ameresco Stock Up 4.8 %

Shares of NYSE:AMRC opened at $45.27 on Tuesday. Ameresco, Inc. has a 52-week low of $39.62 and a 52-week high of $76.54. The stock has a market cap of $2.36 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The business’s 50 day moving average is $44.14 and its 200 day moving average is $53.00. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.71.

Ameresco (NYSE:AMRC – Get Rating) last announced its earnings results on Monday, May 1st. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $271.04 million for the quarter, compared to the consensus estimate of $231.61 million. Ameresco had a net margin of 4.85% and a return on equity of 9.74%. The firm’s revenue was down 42.8% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. Sell-side analysts predict that Ameresco, Inc. will post 1.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group assumed coverage on Ameresco in a research report on Tuesday, May 2nd. They set a “buy” rating and a $60.00 price objective on the stock. Bank of America cut their target price on Ameresco from $59.00 to $53.00 in a research note on Thursday, May 18th. EF Hutton Acquisition Co. I cut their target price on Ameresco from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. Roth Capital raised Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 target price on the stock in a research note on Wednesday, March 1st. Finally, Piper Sandler raised Ameresco from a “neutral” rating to an “overweight” rating and upped their target price for the company from $57.00 to $64.00 in a research note on Friday, March 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Ameresco currently has a consensus rating of “Moderate Buy” and an average target price of $64.07.

Ameresco Profile

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.

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Institutional Ownership by Quarter for Ameresco (NYSE:AMRC)

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