abrdn plc Has $14.32 Million Position in Ameresco, Inc. (NYSE:AMRC)

abrdn plc lessened its position in Ameresco, Inc. (NYSE:AMRC) by 46.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,091 shares of the utilities provider’s stock after selling 396,157 shares during the period. abrdn plc owned about 0.87% of Ameresco worth $14,318,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMRC. Daiwa Securities Group Inc. grew its holdings in Ameresco by 17.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 181,800 shares of the utilities provider’s stock worth $5,758,000 after purchasing an additional 27,300 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Ameresco during the 4th quarter worth approximately $1,108,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Ameresco by 24.6% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,672 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 1,712 shares during the last quarter. Wellington Management Group LLP raised its stake in Ameresco by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares during the period. Finally, Ashford Capital Management Inc. acquired a new stake in Ameresco during the 3rd quarter valued at $7,858,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMRC shares. Raymond James lowered their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. BNP Paribas raised Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Tuesday, March 12th. Canaccord Genuity Group reduced their price target on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameresco currently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Ameresco Stock Performance

Shares of AMRC stock opened at $21.29 on Thursday. The business’s 50-day moving average price is $21.22 and its 200-day moving average price is $25.54. Ameresco, Inc. has a 12 month low of $17.55 and a 12 month high of $63.19. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.55 and a beta of 1.56.

Ameresco (NYSE:AMRC) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts forecast that Ameresco, Inc. will post 1.39 EPS for the current year.

Ameresco 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.