Granahan Investment Management LLC Trims Stake in Ameresco, Inc. (NYSE:AMRC)

Granahan Investment Management LLC lessened its holdings in shares of Ameresco, Inc. (NYSE:AMRC) by 90.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,617 shares of the utilities provider’s stock after selling 97,997 shares during the quarter. Granahan Investment Management LLC’s holdings in Ameresco were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP lifted its position in Ameresco by 124.4% during the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock valued at $19,682,000 after purchasing an additional 464,737 shares in the last quarter. DnB Asset Management AS lifted its position in shares of Ameresco by 59.6% during the 4th quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider’s stock valued at $14,403,000 after buying an additional 229,128 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ameresco by 22.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock valued at $27,230,000 after acquiring an additional 214,918 shares during the period. First Eagle Investment Management LLC increased its holdings in Ameresco by 87.7% in the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after acquiring an additional 196,776 shares in the last quarter. Finally, Gagnon Securities LLC raised its stake in Ameresco by 22.5% during the 4th quarter. Gagnon Securities LLC now owns 571,202 shares of the utilities provider’s stock worth $13,412,000 after acquiring an additional 104,861 shares during the period. Institutional investors own 99.24% of the company’s stock.

Insider Activity at Ameresco

In related news, CEO George P. Sakellaris bought 25,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the acquisition, the chief executive officer now owns 978,638 shares in the company, valued at $9,071,974.26. This trade represents a 2.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the acquisition, the director now directly owns 17,738 shares in the company, valued at $171,526.46. This trade represents a 24.58 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 80,808 shares of company stock valued at $785,274 over the last 90 days. 42.00% of the stock is owned by corporate insiders.

Ameresco Trading Up 1.4 %

Shares of Ameresco stock opened at $13.37 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. The firm has a market cap of $702.47 million, a price-to-earnings ratio of 13.37, a PEG ratio of 0.49 and a beta of 2.20. Ameresco, Inc. has a twelve month low of $8.49 and a twelve month high of $39.68. The business has a 50-day moving average price of $11.08 and a 200-day moving average price of $19.74.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $352.83 million for the quarter, compared to the consensus estimate of $323.71 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. Equities research analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Baird R W lowered shares of Ameresco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Canaccord Genuity Group upped their target price on shares of Ameresco from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Robert W. Baird reissued a “neutral” rating and set a $13.00 price target (down from $25.00) on shares of Ameresco in a report on Tuesday, April 15th. Stifel Nicolaus dropped their price objective on Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler set a $21.00 target price on Ameresco and gave the company an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.33.

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.