Allspring Global Investments Holdings LLC Buys 5,949 Shares of Ameresco, Inc. (NYSE:AMRC)

Allspring Global Investments Holdings LLC raised its holdings in shares of Ameresco, Inc. (NYSE:AMRC) by 54.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,964 shares of the utilities provider’s stock after buying an additional 5,949 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ameresco were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMRC. Bank of New York Mellon Corp grew its stake in shares of Ameresco by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock worth $2,389,000 after buying an additional 859 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Ameresco by 96.8% in the fourth quarter. Victory Capital Management Inc. now owns 45,137 shares of the utilities provider’s stock worth $1,060,000 after purchasing an additional 22,197 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Ameresco by 87.7% during the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after acquiring an additional 196,776 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Ameresco by 31.5% during the 4th quarter. Intech Investment Management LLC now owns 12,447 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 2,983 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Ameresco by 9.4% during the 4th quarter. American Century Companies Inc. now owns 752,375 shares of the utilities provider’s stock valued at $17,666,000 after buying an additional 64,764 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMRC has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Ameresco from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Stifel Nicolaus cut their price target on shares of Ameresco from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. UBS Group reissued a “sell” rating and set a $11.00 price target on shares of Ameresco in a report on Tuesday, June 3rd. 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, Wall Street Zen lowered shares of Ameresco from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.67.

Ameresco Trading Up 0.9%

NYSE AMRC opened at $17.92 on Friday. Ameresco, Inc. has a one year low of $8.49 and a one year high of $39.68. The company’s 50 day moving average price is $15.02 and its 200 day moving average price is $15.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.56 and a current ratio of 1.57. The firm has a market capitalization of $941.52 million, a price-to-earnings ratio of 17.57, a PEG ratio of 0.84 and a beta of 2.22.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. Ameresco had a net margin of 2.97% and a return on equity of 6.32%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. On average, sell-side analysts predict that Ameresco, Inc. will post 1.15 EPS for the current year.

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.