Wells Fargo & Company MN Grows Stock Position in Ameresco, Inc. (NYSE:AMRC)

Wells Fargo & Company MN raised its holdings in Ameresco, Inc. (NYSE:AMRC) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,338 shares of the utilities provider’s stock after purchasing an additional 7,666 shares during the period. Wells Fargo & Company MN owned 0.08% of Ameresco worth $994,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in Ameresco in the 4th quarter valued at about $146,000. Cetera Trust Company N.A raised its position in shares of Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after buying an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Ameresco in the fourth quarter valued at approximately $259,000. Intech Investment Management LLC lifted its stake in shares of Ameresco by 31.5% during the fourth quarter. Intech Investment Management LLC now owns 12,447 shares of the utilities provider’s stock valued at $292,000 after buying an additional 2,983 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Ameresco during the fourth quarter worth approximately $296,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Price Performance

AMRC opened at $10.87 on Wednesday. Ameresco, Inc. has a 52-week low of $8.49 and a 52-week high of $39.68. The company has a 50 day moving average of $11.61 and a two-hundred day moving average of $20.85. The company has a market cap of $571.12 million, a P/E ratio of 10.87, a P/E/G ratio of 0.49 and a beta of 2.02. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The firm had revenue of $532.67 million during the quarter, compared to analysts’ expectations of $524.31 million. On average, analysts expect that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on AMRC. Baird R W lowered Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Stifel Nicolaus reduced their target price on Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Robert W. Baird restated a “neutral” rating and issued a $13.00 price target (down previously from $25.00) on shares of Ameresco in a report on Tuesday, April 15th. UBS Group lowered shares of Ameresco from a “buy” rating to a “sell” rating and cut their price objective for the stock from $37.00 to $8.00 in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group lowered their target price on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.83.

Insider Activity

In other Ameresco news, CEO George P. Sakellaris bought 50,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $9.96 per share, with a total value of $498,000.00. Following the completion of the transaction, the chief executive officer now owns 903,638 shares in the company, valued at $9,000,234.48. The trade was a 5.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $21.06, for a total value of $842,400.00. Following the completion of the transaction, the director now directly owns 17,225 shares of the company’s stock, valued at $362,758.50. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 80,808 shares of company stock worth $785,274 and have sold 40,085 shares worth $843,378. Insiders own 42.00% of the company’s stock.

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.