Northern Trust Corp Decreases Stake in Ameresco, Inc. (NYSE:AMRC)

Northern Trust Corp lessened its holdings in Ameresco, Inc. (NYSE:AMRC) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 306,996 shares of the utilities provider’s stock after selling 2,460 shares during the quarter. Northern Trust Corp owned about 0.59% of Ameresco worth $7,208,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ameresco by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider’s stock valued at $74,767,000 after buying an additional 37,359 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ameresco by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock valued at $27,230,000 after acquiring an additional 214,918 shares during the period. First Trust Advisors LP increased its stake in Ameresco by 124.4% during the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after purchasing an additional 464,737 shares during the period. Geode Capital Management LLC raised its stake in shares of Ameresco by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 758,952 shares of the utilities provider’s stock valued at $17,825,000 after acquiring an additional 4,177 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Ameresco by 9.4% during the fourth quarter. American Century Companies Inc. now owns 752,375 shares of the utilities provider’s stock worth $17,666,000 after buying an additional 64,764 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Price Performance

AMRC opened at $14.66 on Tuesday. The company has a 50-day moving average of $11.60 and a 200-day moving average of $18.98. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. Ameresco, Inc. has a 1-year low of $8.49 and a 1-year high of $39.68. The company has a market capitalization of $770.25 million, a P/E ratio of 14.66, a PEG ratio of 0.49 and a beta of 2.20.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The company had revenue of $352.83 million for the quarter, compared to the consensus estimate of $323.71 million. During the same period in the previous year, the firm earned ($0.10) EPS. Ameresco’s revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMRC. Piper Sandler set a $21.00 price objective on shares of Ameresco and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. UBS Group lowered shares of Ameresco from a “buy” rating to a “sell” rating and decreased their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Robert W. Baird restated a “neutral” rating and set a $13.00 target price (down previously from $25.00) on shares of Ameresco in a research report on Tuesday, April 15th. Baird R W downgraded shares of Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus lowered their target price on shares of Ameresco from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ameresco currently has an average rating of “Hold” and an average target price of $20.17.

Insiders Place Their Bets

In other news, CEO George P. Sakellaris acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.27 per share, with a total value of $231,750.00. Following the acquisition, the chief executive officer now owns 978,638 shares in the company, valued at approximately $9,071,974.26. This represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis V. Wisneski, Jr. bought 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the transaction, the director now owns 17,738 shares of the company’s stock, valued at $171,526.46. This represents a 24.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 80,808 shares of company stock worth $785,274 over the last ninety days. 42.00% of the stock is currently owned by company insiders.

Ameresco Company 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.