Inspire Investing LLC Reduces Stock Position in Ameresco, Inc. (NYSE:AMRC)

Inspire Investing LLC reduced its stake in Ameresco, Inc. (NYSE:AMRC) by 42.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,786 shares of the utilities provider’s stock after selling 7,917 shares during the period. Inspire Investing LLC’s holdings in Ameresco were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. LGT Group Foundation purchased a new position in Ameresco during the 2nd quarter valued at about $20,325,000. Swedbank AB purchased a new position in Ameresco during the first quarter valued at approximately $12,065,000. Point72 Asset Management L.P. bought a new stake in Ameresco during the 2nd quarter worth approximately $10,821,000. Redwood Grove Capital LLC purchased a new stake in Ameresco in the 1st quarter worth approximately $7,170,000. Finally, American Century Companies Inc. boosted its holdings in Ameresco by 190.4% in the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the utilities provider’s stock valued at $5,309,000 after purchasing an additional 120,833 shares during the period. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 5,221 shares of company stock worth $140,814. Corporate insiders own 42.00% of the company’s stock.

Ameresco Stock Up 3.1 %

Shares of NYSE AMRC opened at $31.86 on Friday. The firm has a fifty day simple moving average of $32.46 and a two-hundred day simple moving average of $29.78. The firm has a market capitalization of $1.67 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. Ameresco, Inc. has a 12 month low of $17.55 and a 12 month high of $39.68.

Ameresco (NYSE:AMRC) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The firm had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue was up 33.9% on a year-over-year basis. Equities analysts expect that Ameresco, Inc. will post 1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Wednesday. Jefferies Financial Group began coverage on Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target for the company. UBS Group boosted their price objective on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. B. Riley raised shares of Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Piper Sandler cut their price target on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ameresco presently has a consensus rating of “Moderate Buy” and an average price target of $37.08.

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.