Cetera Trust Company N.A Buys Shares of 3,360 Ameresco, Inc. (NYSE:AMRC)

Cetera Trust Company N.A acquired a new position in Ameresco, Inc. (NYSE:AMRC) in the 4th quarter, Holdings Channel.com reports. The firm acquired 3,360 shares of the utilities provider’s stock, valued at approximately $106,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMRC. Ashford Capital Management Inc. purchased a new stake in shares of Ameresco in the 3rd quarter worth $7,858,000. Wellington Management Group LLP increased its stake in shares of Ameresco by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after purchasing an additional 176,971 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Ameresco by 5.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock worth $107,181,000 after purchasing an additional 150,000 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Ameresco by 23.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 619,567 shares of the utilities provider’s stock worth $23,745,000 after buying an additional 116,613 shares during the period. Finally, Emerald Advisers LLC boosted its holdings in Ameresco by 24.7% in the 3rd quarter. Emerald Advisers LLC now owns 369,431 shares of the utilities provider’s stock worth $14,245,000 after buying an additional 73,185 shares during the period. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Stock Up 1.5 %

AMRC opened at $19.09 on Tuesday. The firm has a 50-day simple moving average of $21.24 and a two-hundred day simple moving average of $25.63. Ameresco, Inc. has a 52 week low of $17.55 and a 52 week high of $63.19. The company has a market capitalization of $998.08 million, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26.

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

Wall Street Analyst Weigh In

AMRC has been the subject of several recent analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Tuesday, March 12th. Truist Financial dropped their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a report on Monday. B. Riley dropped their target price on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a report on Monday, February 5th. Finally, Canaccord Genuity Group dropped their target price on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

About Ameresco

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.