US Bancorp DE Boosts Holdings in Altus Power, Inc. (NYSE:AMPS)

US Bancorp DE raised its holdings in Altus Power, Inc. (NYSE:AMPS) by 11,326.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,598 shares of the company’s stock after buying an additional 9,514 shares during the quarter. US Bancorp DE’s holdings in Altus Power were worth $39,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMPS. XTX Topco Ltd purchased a new stake in Altus Power in the 3rd quarter valued at about $425,000. abrdn plc grew its holdings in Altus Power by 7.3% in the 4th quarter. abrdn plc now owns 1,550,200 shares of the company’s stock valued at $6,418,000 after buying an additional 105,800 shares during the period. GSA Capital Partners LLP purchased a new stake in Altus Power in the 3rd quarter valued at about $286,000. Barclays PLC grew its holdings in Altus Power by 312.8% in the 3rd quarter. Barclays PLC now owns 115,987 shares of the company’s stock valued at $369,000 after buying an additional 87,886 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Altus Power by 48.1% in the 4th quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock valued at $1,088,000 after buying an additional 86,797 shares during the period. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Insiders Place Their Bets

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now directly owns 4,088,231 shares of the company’s stock, valued at $20,073,214.21. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dustin Weber sold 9,162 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $44,985.42. Following the completion of the transaction, the chief financial officer now directly owns 2,002,611 shares in the company, valued at approximately $9,832,820.01. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock worth $437,707 in the last 90 days. 24.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. B. Riley cut Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Friday, February 7th. Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Altus Power currently has a consensus rating of “Hold” and a consensus price target of $5.06.

Altus Power Stock Down 0.3 %

NYSE AMPS opened at $4.95 on Wednesday. The stock has a market cap of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. Altus Power, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $5.50. The business has a 50 day moving average price of $4.47 and a two-hundred day moving average price of $3.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, sell-side analysts predict that Altus Power, Inc. will post 0.14 EPS for the current fiscal year.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.