Arizona State Retirement System Purchases 341 Shares of Ameresco, Inc. (NYSE:AMRC)

Arizona State Retirement System grew its position in shares of Ameresco, Inc. (NYSE:AMRC – Get Rating) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,069 shares of the utilities provider’s stock after buying an additional 341 shares during the period. Arizona State Retirement System’s holdings in Ameresco were worth $518,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Ameresco during the 1st quarter worth $50,000. Advisors Asset Management Inc. increased its position in shares of Ameresco by 1,878.8% in the third quarter. Advisors Asset Management Inc. now owns 1,029 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 977 shares during the period. RFP Financial Group LLC bought a new position in shares of Ameresco in the fourth quarter worth $74,000. Allspring Global Investments Holdings LLC increased its position in shares of Ameresco by 19.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,672 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 273 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ameresco in the fourth quarter worth $105,000. Institutional investors own 57.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler upgraded Ameresco from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $57.00 to $64.00 in a research report on Friday, March 10th. Oppenheimer decreased their price target on Ameresco from $76.00 to $64.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 28th. Raymond James decreased their price target on Ameresco from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Bank of America reduced their price objective on Ameresco from $59.00 to $53.00 in a research note on Thursday. Finally, Craig Hallum reduced their price objective on Ameresco from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Ameresco has a consensus rating of “Moderate Buy” and an average price target of $64.07.

Ameresco Stock Performance

Shares of AMRC stock opened at $43.59 on Friday. The business’s 50-day moving average price is $44.20 and its 200-day moving average price is $53.21. Ameresco, Inc. has a 12 month low of $39.62 and a 12 month high of $76.54. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.00 and a beta of 1.27. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.71.

Ameresco (NYSE:AMRC – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The utilities provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $271.04 million during the quarter, compared to analyst estimates of $231.61 million. Ameresco had a return on equity of 9.74% and a net margin of 4.85%. Ameresco’s revenue was down 42.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts forecast that Ameresco, Inc. will post 1.8 EPS for the current year.

Insider Buying and Selling

In related news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $42.72, for a total value of $213,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 41.88% of the stock is owned by insiders.

Ameresco Company Profile

(Get Rating)

Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.