Ameresco, Inc. (NYSE:AMRC) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in shares of Ameresco, Inc. (NYSE:AMRC) by 29.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,381 shares of the utilities provider’s stock after selling 80,333 shares during the period. Millennium Management LLC owned 0.36% of Ameresco worth $5,485,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Ameresco by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock worth $75,909,000 after purchasing an additional 36,303 shares during the last quarter. LGT Group Foundation acquired a new stake in shares of Ameresco during the second quarter valued at about $20,325,000. Swedbank AB acquired a new stake in shares of Ameresco during the first quarter valued at about $12,065,000. Redwood Grove Capital LLC acquired a new stake in shares of Ameresco during the first quarter valued at about $7,170,000. Finally, DNB Asset Management AS increased its position in shares of Ameresco by 10.8% during the second quarter. DNB Asset Management AS now owns 292,764 shares of the utilities provider’s stock valued at $8,432,000 after acquiring an additional 28,648 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Stock Up 4.7 %

Shares of Ameresco stock opened at $34.78 on Friday. Ameresco, Inc. has a 52-week low of $17.55 and a 52-week high of $39.68. The company has a 50 day moving average of $32.03 and a 200 day moving average of $29.49. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $1.82 billion, a P/E ratio of 31.62, a P/E/G ratio of 1.21 and a beta of 1.79.

Ameresco (NYSE:AMRC) last issued its quarterly 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 return on equity of 6.25% and a net margin of 3.77%. The firm had revenue of $437.98 million during the quarter, compared to analysts’ expectations of $373.75 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The firm’s revenue was up 33.9% compared to the same quarter last year. As a group, research analysts forecast that Ameresco, Inc. will post 1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a research report on Tuesday, June 25th. UBS Group lifted their price target on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Robert W. Baird raised their price objective on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Piper Sandler lowered their price objective on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group assumed coverage on shares of Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.46.

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.