Ameresco, Inc. (NYSE:AMRC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Ameresco, Inc. (NYSE:AMRC) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,847 shares of the utilities provider’s stock after selling 2,883 shares during the period. Bank of New York Mellon Corp owned 0.19% of Ameresco worth $1,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Ameresco by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,964 shares of the utilities provider’s stock valued at $205,000 after buying an additional 5,949 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Ameresco in the 1st quarter worth about $1,043,000. Dynamic Advisor Solutions LLC acquired a new position in Ameresco during the 1st quarter valued at about $250,000. Harbor Capital Advisors Inc. boosted its stake in Ameresco by 731.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider’s stock valued at $2,787,000 after purchasing an additional 202,970 shares during the period. Finally, Clean Yield Group increased its stake in shares of Ameresco by 6.3% in the first quarter. Clean Yield Group now owns 112,746 shares of the utilities provider’s stock valued at $1,362,000 after purchasing an additional 6,718 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.

Ameresco Trading Up 1.2%

NYSE:AMRC opened at $16.91 on Friday. The company’s 50 day moving average is $16.24 and its 200-day moving average is $15.31. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.50. Ameresco, Inc. has a 12 month low of $8.49 and a 12 month high of $39.68. The firm has a market cap of $888.45 million, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.79 and a beta of 2.22.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. The business had revenue of $352.83 million during the quarter, compared to analysts’ expectations of $323.71 million. Ameresco had a return on equity of 6.32% and a net margin of 2.97%. The firm’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) EPS. Equities analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMRC. Stifel Nicolaus lowered their target price 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. Piper Sandler set a $21.00 price objective on shares of Ameresco and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Baird R W downgraded Ameresco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Jefferies Financial Group increased their price target on Ameresco from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Finally, Canaccord Genuity Group boosted their price objective on Ameresco from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.33.

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.