DnB Asset Management AS Raises Stake in Ameresco, Inc. (NYSE:AMRC)

DnB Asset Management AS increased its stake in shares of Ameresco, Inc. (NYSE:AMRC) by 59.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 613,430 shares of the utilities provider’s stock after buying an additional 229,128 shares during the period. DnB Asset Management AS’s holdings in Ameresco were worth $14,403,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Ameresco by 1,294.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 2,279 shares during the period. KLP Kapitalforvaltning AS bought a new position in Ameresco during the fourth quarter valued at $146,000. Cetera Trust Company N.A increased its position in Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after buying an additional 440 shares during the last quarter. FMR LLC raised its stake in shares of Ameresco by 257.9% in the third quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock valued at $203,000 after buying an additional 3,855 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Ameresco during the 4th quarter valued at $259,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Trading Up 1.0 %

Shares of AMRC stock opened at $12.42 on Friday. Ameresco, Inc. has a 52-week low of $9.04 and a 52-week high of $39.68. The business’s fifty day moving average is $16.73 and its 200 day moving average is $25.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The company has a market capitalization of $652.40 million, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.49 and a beta of 2.07.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $532.67 million during the quarter, compared to analyst estimates of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. On average, equities research analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Insider Transactions at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the transaction, the director now directly owns 17,225 shares in the company, valued at approximately $362,758.50. This represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the acquisition, the director now owns 17,738 shares in the company, valued at $171,526.46. This represents a 24.58 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 80,808 shares of company stock valued at $785,274 and have sold 40,085 shares valued at $843,378. Insiders own 42.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMRC. Robert W. Baird decreased their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Canaccord Genuity Group lowered their price target on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus cut their price objective on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, UBS Group cut shares of Ameresco from a “buy” rating to a “sell” rating and lowered their target price for the company from $37.00 to $8.00 in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.63.

Ameresco Company 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.