Stephens Investment Management Group LLC Sells 53,080 Shares of Ameresco, Inc. (NYSE:AMRC)

Stephens Investment Management Group LLC cut its stake in Ameresco, Inc. (NYSE:AMRC) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,070,305 shares of the utilities provider’s stock after selling 53,080 shares during the quarter. Stephens Investment Management Group LLC owned 2.04% of Ameresco worth $40,607,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Natixis bought a new stake in Ameresco in the first quarter valued at approximately $480,000. Harbor Capital Advisors Inc. increased its position in shares of Ameresco by 187.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock valued at $1,982,000 after buying an additional 44,882 shares in the last quarter. Swedbank AB acquired a new stake in Ameresco during the 1st quarter worth $12,065,000. Connors Investor Services Inc. lifted its holdings in Ameresco by 35.4% during the first quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock worth $3,449,000 after acquiring an additional 37,368 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in Ameresco in the first quarter valued at about $1,009,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMRC has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target on the stock. UBS Group raised their price objective on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Robert W. Baird boosted their price objective on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Finally, StockNews.com upgraded Ameresco to a “sell” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ameresco has a consensus rating of “Moderate Buy” and an average price target of $36.73.

Insider Transactions at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at $49,823.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 5,221 shares of company stock worth $140,814 in the last ninety days. Insiders own 42.00% of the company’s stock.

Ameresco Stock Up 2.6 %

AMRC stock opened at $30.77 on Friday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 1.21 and a beta of 1.79. Ameresco, Inc. has a twelve month low of $17.55 and a twelve month high of $39.68. The business has a 50 day moving average price of $33.00 and a two-hundred day moving average price of $30.31. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15.

Ameresco (NYSE:AMRC) last released its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. Ameresco’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Analysts anticipate that Ameresco, Inc. will post 1.16 EPS for the current fiscal year.

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.