Guinness Asset Management LTD Trims Holdings in Ameresco, Inc. (NYSE:AMRC)

Guinness Asset Management LTD lowered its stake in shares of Ameresco, Inc. (NYSE:AMRC) by 24.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 387,816 shares of the utilities provider’s stock after selling 123,714 shares during the period. Guinness Asset Management LTD owned approximately 0.74% of Ameresco worth $9,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMRC. Wellington Management Group LLP increased its stake in Ameresco by 81.3% during the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after purchasing an additional 450,571 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ameresco by 1.4% in the third quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock valued at $28,642,000 after purchasing an additional 10,197 shares in the last quarter. Redwood Grove Capital LLC increased its stake in Ameresco by 41.9% during the 3rd quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock worth $18,966,000 after buying an additional 147,642 shares during the period. Point72 Asset Management L.P. acquired a new stake in Ameresco during the 2nd quarter worth approximately $10,821,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Ameresco by 3,389.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock valued at $7,124,000 after buying an additional 179,635 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.

Ameresco Trading Down 6.7 %

NYSE AMRC opened at $23.05 on Monday. The firm’s fifty day moving average price is $25.68 and its 200 day moving average price is $29.49. Ameresco, Inc. has a 12 month low of $17.55 and a 12 month high of $39.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 0.68 and a beta of 1.79.

Analysts Set New Price Targets

Several analysts have recently issued reports on AMRC shares. Piper Sandler increased their price objective on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Stifel Nicolaus upped their target price on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Robert W. Baird lifted their price target on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.90.

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.