Bank of New York Mellon Corp Has $1.09 Million Stock Holdings in Altus Power, Inc. (NYSE:AMPS)

Bank of New York Mellon Corp lifted its position in shares of Altus Power, Inc. (NYSE:AMPS) by 48.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 267,220 shares of the company’s stock after buying an additional 86,797 shares during the quarter. Bank of New York Mellon Corp owned about 0.17% of Altus Power worth $1,088,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Altus Power by 9.0% during the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares during the period. SG Americas Securities LLC grew its position in Altus Power by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 36,058 shares of the company’s stock worth $147,000 after buying an additional 5,912 shares in the last quarter. HighTower Advisors LLC bought a new position in Altus Power during the 3rd quarter worth $41,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Altus Power by 4.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock valued at $993,000 after acquiring an additional 14,492 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Altus Power by 47.2% during the 3rd quarter. Franklin Resources Inc. now owns 51,035 shares of the company’s stock valued at $161,000 after acquiring an additional 16,370 shares during the period. 46.55% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group cut Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Monday, February 10th. Roth Mkm restated a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a research report on Friday. Seaport Res Ptn cut Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Roth Capital lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Altus Power presently has a consensus rating of “Hold” and a consensus price target of $5.13.

Altus Power Trading Up 0.3 %

AMPS opened at $4.95 on Tuesday. The company’s 50 day moving average price is $4.54 and its two-hundred day moving average price is $3.97. The firm has a market capitalization of $795.14 million, a price-to-earnings 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 company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data 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 analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. As a group, research analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current year.

About Altus Power

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.