Victory Capital Management Inc. Invests $870,000 in Ameresco, Inc. (NYSE:AMRC)

Victory Capital Management Inc. acquired a new position in Ameresco, Inc. (NYSE:AMRC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,940 shares of the utilities provider’s stock, valued at approximately $870,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in Ameresco by 100.3% during the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 391 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Ameresco during the second quarter valued at about $75,000. Point72 DIFC Ltd acquired a new stake in shares of Ameresco during the second quarter valued at about $86,000. GAMMA Investing LLC boosted its stake in shares of Ameresco by 1,215.2% in the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 2,880 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Ameresco in the second quarter worth approximately $156,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Stifel Nicolaus boosted their price objective on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird boosted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ameresco currently has an average rating of “Moderate Buy” and an average price target of $36.91.

Ameresco Stock Up 8.9 %

AMRC opened at $28.53 on Thursday. The firm has a 50 day moving average price of $32.05 and a 200 day moving average price of $31.29. The company has a market cap of $1.50 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 0.94 and a beta of 1.82. Ameresco, Inc. has a 1 year low of $17.55 and a 1 year high of $39.68. 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 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.