Bank of New York Mellon Corp Acquires 859 Shares of Ameresco, Inc. (NYSE:AMRC)

Bank of New York Mellon Corp lifted its holdings in Ameresco, Inc. (NYSE:AMRC) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,730 shares of the utilities provider’s stock after purchasing an additional 859 shares during the period. Bank of New York Mellon Corp owned 0.19% of Ameresco worth $2,389,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Figure 8 Investment Strategies LLC acquired a new stake in Ameresco during the fourth quarter valued at approximately $707,000. Allspring Global Investments Holdings LLC acquired a new stake in Ameresco during the fourth quarter valued at approximately $259,000. Gagnon Advisors LLC raised its stake in shares of Ameresco by 32.4% in the fourth quarter. Gagnon Advisors LLC now owns 272,694 shares of the utilities provider’s stock valued at $6,403,000 after acquiring an additional 66,746 shares during the last quarter. Gagnon Securities LLC raised its stake in shares of Ameresco by 22.5% in the fourth quarter. Gagnon Securities LLC now owns 571,202 shares of the utilities provider’s stock valued at $13,412,000 after acquiring an additional 104,861 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Ameresco by 58.3% in the fourth quarter. Inspire Investing LLC now owns 17,077 shares of the utilities provider’s stock valued at $401,000 after acquiring an additional 6,291 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the sale, the director now owns 17,225 shares of the company’s stock, valued at approximately $362,758.50. The trade was a 69.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Francis V. Wisneski, Jr. bought 3,500 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the purchase, the director now directly owns 17,738 shares in the company, valued at approximately $171,526.46. This represents a 24.58 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 80,808 shares of company stock worth $785,274 and have sold 40,085 shares worth $843,378. Corporate insiders own 42.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus dropped their price objective on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. UBS Group cut shares of Ameresco from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird dropped their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued 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 target price of $27.63.

Ameresco Stock Up 5.1 %

Shares of NYSE AMRC opened at $13.45 on Friday. The stock has a market capitalization of $706.52 million, a P/E ratio of 13.45, a P/E/G ratio of 0.49 and a beta of 2.07. The company has a 50-day moving average price of $17.86 and a 200-day moving average price of $25.65. Ameresco, Inc. has a 1 year low of $9.04 and a 1 year high of $39.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The business had revenue of $532.67 million for the quarter, compared to analysts’ expectations of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. On average, equities research analysts forecast that Ameresco, Inc. will post 1.15 EPS 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.