Invesco Ltd. Reduces Holdings in Altus Power, Inc. (NYSE:AMPS)

Invesco Ltd. decreased its position in shares of Altus Power, Inc. (NYSE:AMPS) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,995,131 shares of the company’s stock after selling 228,692 shares during the period. Invesco Ltd. owned approximately 2.48% of Altus Power worth $16,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AMPS. State Street Corp raised its position in Altus Power by 0.6% in the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after purchasing an additional 21,312 shares during the period. Geode Capital Management LLC boosted its holdings in Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after acquiring an additional 10,450 shares during the period. abrdn plc grew its position in Altus Power by 7.3% in the 4th quarter. abrdn plc now owns 1,550,200 shares of the company’s stock valued at $6,418,000 after acquiring an additional 105,800 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Altus Power by 48.1% in the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock worth $1,088,000 after purchasing an additional 86,797 shares during the period. Finally, Barclays PLC lifted its position in shares of Altus Power by 312.8% during the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after purchasing an additional 87,886 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

Insider Transactions at Altus Power

In other news, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $43,320.93. Following the sale, the insider now directly owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregg J. Felton sold 87,048 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $4.96, for a total value of $431,758.08. Following the completion of the transaction, the chief executive officer now owns 3,852,712 shares of the company’s stock, valued at $19,109,451.52. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,422 shares of company stock worth $1,093,796. Insiders own 24.30% of the company’s stock.

Altus Power Price Performance

Shares of AMPS opened at $5.00 on Monday. The company has a 50 day moving average of $4.94 and a two-hundred day moving average of $4.22. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power, Inc. has a twelve month low of $2.71 and a twelve month high of $5.50. The company has a market cap of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. As a group, analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMPS. JPMorgan Chase & Co. upgraded shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday, February 6th. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Finally, Roth Mkm reissued a “neutral” rating and set a $5.00 target price on shares of Altus Power in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.13.

Altus Power Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.