Dimensional Fund Advisors LP Reduces Stock Position in Ameresco, Inc. (NYSE:AMRC)

Posted by Defense World Staff on May 30th, 2023

Dimensional Fund Advisors LP lowered its position in shares of Ameresco, Inc. (NYSE:AMRC – Get Rating) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 783,641 shares of the utilities provider’s stock after selling 8,262 shares during the period. Dimensional Fund Advisors LP owned about 1.51% of Ameresco worth $44,776,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Ameresco by 77.9% during the 4th quarter. Van ECK Associates Corp now owns 514 shares of the utilities provider’s stock valued at $29,000 after buying an additional 225 shares during the period. Lazard Asset Management LLC purchased a new stake in Ameresco during the 1st quarter valued at $50,000. Advisors Asset Management Inc. boosted its position in Ameresco by 1,878.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,029 shares of the utilities provider’s stock valued at $68,000 after buying an additional 977 shares during the period. RFP Financial Group LLC purchased a new stake in Ameresco during the 4th quarter valued at $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ameresco in the 4th quarter worth about $105,000. Hedge funds and other institutional investors own 57.50% of the company’s stock.

Ameresco Stock Up 0.9 %

NYSE:AMRC opened at $43.25 on Tuesday. The firm has a market cap of $2.25 billion, a P/E ratio of 29.22, a P/E/G ratio of 1.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.23 and a current ratio of 1.25. Ameresco, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $76.54. The firm has a 50-day simple moving average of $44.16 and a two-hundred day simple moving average of $52.58.

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

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $42.72, for a total value of $213,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 41.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler raised shares of Ameresco from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $57.00 to $64.00 in a research report on Friday, March 10th. Raymond James dropped their target price on shares of Ameresco from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 5th. VNET Group reaffirmed a “maintains” rating on shares of Ameresco in a research report on Thursday, May 18th. Roth Mkm raised shares of Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 target price for the company in a research report on Wednesday, March 1st. Finally, Bank of America dropped their target price on shares of Ameresco from $59.00 to $53.00 in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.