American Century Companies Inc. Boosts Stake in Ameresco, Inc. (NYSE:AMRC)

American Century Companies Inc. increased its position in Ameresco, Inc. (NYSE:AMRC) by 190.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 184,281 shares of the utilities provider’s stock after purchasing an additional 120,833 shares during the period. American Century Companies Inc. owned 0.35% of Ameresco worth $5,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMRC. Charles Schwab Investment Management Inc. increased its position in Ameresco by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 252,083 shares of the utilities provider’s stock valued at $7,983,000 after acquiring an additional 3,160 shares during the period. Dimensional Fund Advisors LP increased its position in Ameresco by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock valued at $28,890,000 after acquiring an additional 110,204 shares during the period. Quest Partners LLC acquired a new position in Ameresco in the 4th quarter valued at about $62,000. Otter Creek Advisors LLC increased its position in Ameresco by 1.2% in the 4th quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after acquiring an additional 818 shares during the period. Finally, KBC Group NV increased its position in Ameresco by 17.7% in the 4th quarter. KBC Group NV now owns 101,930 shares of the utilities provider’s stock valued at $3,228,000 after acquiring an additional 15,336 shares during the period. 99.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the sale, the chief financial officer now owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AMRC. Jefferies Financial Group began coverage on Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 target price on the stock. Robert W. Baird boosted their target price on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler dropped their target price on Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Saturday, August 17th. Finally, UBS Group boosted their target price on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.46.

Ameresco Price Performance

AMRC stock opened at $37.75 on Wednesday. Ameresco, Inc. has a 1 year low of $17.55 and a 1 year high of $42.82. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.00 and a current ratio of 1.01. The stock’s 50 day moving average price is $30.82 and its 200 day moving average price is $28.21. The firm has a market cap of $1.98 billion, a P/E ratio of 34.32, a PEG ratio of 1.15 and a beta of 1.78.

Ameresco (NYSE:AMRC) last posted its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company had revenue of $437.98 million during the quarter, compared to analysts’ expectations of $373.75 million. During the same period in the previous year, the company posted $0.15 EPS. Ameresco’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, sell-side analysts expect that Ameresco, Inc. will post 1.16 earnings per share for the current fiscal 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.