375,609 Shares in Ameresco, Inc. (NYSE:AMRC) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in Ameresco, Inc. (NYSE:AMRC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 375,609 shares of the utilities provider’s stock, valued at approximately $10,821,000. Point72 Asset Management L.P. owned about 0.72% of Ameresco as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMRC. Vanguard Group Inc. lifted its position in Ameresco by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock valued at $75,909,000 after acquiring an additional 36,303 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Ameresco by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock worth $28,890,000 after buying an additional 110,204 shares during the last quarter. First Trust Advisors LP increased its position in Ameresco by 59.9% during the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock worth $25,128,000 after buying an additional 297,236 shares during the period. LGT Group Foundation purchased a new stake in Ameresco in the second quarter valued at approximately $20,325,000. Finally, Granahan Investment Management LLC grew its position in shares of Ameresco by 0.9% during the fourth quarter. Granahan Investment Management LLC now owns 521,672 shares of the utilities provider’s stock worth $16,521,000 after acquiring an additional 4,621 shares during the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.53, for a total transaction of $132,650.00. Following the transaction, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 5,221 shares of company stock valued at $140,814 in the last quarter. 42.00% of the stock is currently owned by company insiders.

Ameresco Stock Performance

NYSE AMRC opened at $37.94 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.78. Ameresco, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $39.68. The business has a fifty day moving average of $31.28 and a 200-day moving average of $28.69.

Ameresco (NYSE:AMRC) last announced 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 analyst estimates of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. As a group, analysts predict that Ameresco, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMRC shares. Robert W. Baird raised their price objective on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. UBS Group boosted their price target on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Piper Sandler decreased their price objective on Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. StockNews.com upgraded Ameresco to a “sell” rating in a research note on Saturday, August 17th. Finally, Jefferies Financial Group initiated coverage on shares of Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.46.

Ameresco 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.