Charles Schwab Investment Management Inc. Sells 6,588 Shares of Ameresco, Inc. (NYSE:AMRC)

Charles Schwab Investment Management Inc. lowered its position in shares of Ameresco, Inc. (NYSE:AMRC) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 275,960 shares of the utilities provider’s stock after selling 6,588 shares during the period. Charles Schwab Investment Management Inc. owned about 0.53% of Ameresco worth $6,480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMRC. Wellington Management Group LLP grew its stake in shares of Ameresco by 81.3% in the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after purchasing an additional 450,571 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Ameresco by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock valued at $28,642,000 after buying an additional 10,197 shares during the last quarter. Gagnon Securities LLC increased its position in Ameresco by 22.5% during the 4th quarter. Gagnon Securities LLC now owns 571,202 shares of the utilities provider’s stock valued at $13,412,000 after purchasing an additional 104,861 shares during the period. Redwood Grove Capital LLC increased its position in shares of Ameresco by 41.9% during the third quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock worth $18,966,000 after buying an additional 147,642 shares during the period. Finally, Gagnon Advisors LLC raised its stake in Ameresco by 32.4% during the fourth quarter. Gagnon Advisors LLC now owns 272,694 shares of the utilities provider’s stock worth $6,403,000 after buying an additional 66,746 shares during the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AMRC has been the topic of a number of recent analyst reports. UBS Group downgraded Ameresco from a “buy” rating to a “sell” rating and dropped their price objective for the company from $37.00 to $8.00 in a research note on Tuesday, March 4th. Robert W. Baird dropped their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus reduced their price target on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group dropped their price objective on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.63.

Insider Buying and Selling at Ameresco

In other news, Director Francis V. Wisneski, Jr. acquired 3,500 shares of Ameresco stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $9.67 per share, with a total value of $33,845.00. Following the completion of the acquisition, the director now owns 17,738 shares in the company, valued at approximately $171,526.46. This trade represents a 24.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George P. Sakellaris bought 50,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $9.96 per share, for a total transaction of $498,000.00. Following the completion of the purchase, the chief executive officer now owns 903,638 shares of the company’s stock, valued at approximately $9,000,234.48. This trade represents a 5.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. Company insiders own 42.00% of the company’s stock.

Ameresco Stock Performance

Shares of AMRC opened at $12.90 on Tuesday. The firm has a market capitalization of $677.52 million, a P/E ratio of 12.90, a P/E/G ratio of 0.49 and a beta of 2.07. The stock has a 50 day moving average price of $17.63 and a two-hundred day moving average price of $25.46. Ameresco, Inc. has a 52 week low of $9.04 and a 52 week 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 (NYSE:AMRC) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The firm had revenue of $532.67 million for the quarter, compared to the consensus estimate of $524.31 million. Equities analysts forecast that Ameresco, Inc. will post 1.15 earnings per share 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.