Geode Capital Management LLC Raises Position in Ameresco, Inc. (NYSE:AMRC)

Geode Capital Management LLC increased its position in shares of Ameresco, Inc. (NYSE:AMRC) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 754,775 shares of the utilities provider’s stock after purchasing an additional 10,197 shares during the period. Geode Capital Management LLC owned approximately 1.44% of Ameresco worth $28,642,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its position in Ameresco by 35.1% during the 3rd quarter. Stifel Financial Corp now owns 118,277 shares of the utilities provider’s stock worth $4,487,000 after purchasing an additional 30,718 shares during the period. Wellington Management Group LLP grew its holdings in Ameresco by 81.3% during the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after acquiring an additional 450,571 shares during the period. Barclays PLC raised its position in Ameresco by 204.2% in the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider’s stock worth $2,248,000 after acquiring an additional 39,773 shares in the last quarter. Clayton Partners LLC lifted its holdings in Ameresco by 117.8% in the second quarter. Clayton Partners LLC now owns 77,735 shares of the utilities provider’s stock valued at $2,240,000 after acquiring an additional 42,052 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Ameresco during the 2nd quarter worth $2,048,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMRC. UBS Group raised their price objective on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Robert W. Baird lifted their price target on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Piper Sandler upped their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

Ameresco Stock Performance

Ameresco stock opened at $23.47 on Friday. The firm has a market capitalization of $1.23 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 0.90 and a beta of 1.76. The stock’s 50 day moving average price is $27.65 and its 200 day moving average price is $30.26. Ameresco, Inc. has a one year low of $17.55 and a one year 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 Profile

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.