Guinness Asset Management LTD Has $6.78 Million Stock Position in Ameresco, Inc. $AMRC

Guinness Asset Management LTD reduced its position in Ameresco, Inc. (NYSE:AMRC) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 198,396 shares of the utilities provider’s stock after selling 43,908 shares during the quarter. Guinness Asset Management LTD’s holdings in Ameresco were worth $6,777,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. First Trust Advisors LP boosted its stake in Ameresco by 1,832.5% in the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock worth $26,965,000 after purchasing an additional 1,683,326 shares during the period. DNB Asset Management AS lifted its holdings in shares of Ameresco by 3.8% in the second quarter. DNB Asset Management AS now owns 1,189,714 shares of the utilities provider’s stock valued at $18,072,000 after purchasing an additional 43,411 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Ameresco by 33.1% in the second quarter. First Eagle Investment Management LLC now owns 753,807 shares of the utilities provider’s stock worth $11,450,000 after buying an additional 187,380 shares during the period. Redwood Grove Capital LLC grew its holdings in shares of Ameresco by 36.0% during the second quarter. Redwood Grove Capital LLC now owns 679,833 shares of the utilities provider’s stock valued at $10,327,000 after buying an additional 179,943 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Ameresco by 14.3% during the second quarter. Legal & General Group Plc now owns 679,355 shares of the utilities provider’s stock valued at $10,319,000 after buying an additional 84,960 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AMRC has been the subject of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Ameresco in a research report on Monday, December 29th. Stifel Nicolaus increased their price target on shares of Ameresco from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. UBS Group boosted their price objective on shares of Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Wall Street Zen downgraded shares of Ameresco from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, Cantor Fitzgerald assumed coverage on shares of Ameresco in a report on Friday, January 23rd. They set an “overweight” rating and a $41.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.80.

Ameresco Price Performance

NYSE AMRC opened at $26.55 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $1.40 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.04 and a beta of 2.53. Ameresco, Inc. has a 12-month low of $8.49 and a 12-month high of $44.93. The company has a 50 day moving average price of $31.27 and a two-hundred day moving average price of $30.46.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.26 by $0.09. Ameresco had a net margin of 3.34% and a return on equity of 6.97%. The company had revenue of $525.99 million for the quarter, compared to analyst estimates of $518.41 million. During the same quarter in the prior year, the business posted $0.33 EPS. Ameresco’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

About Ameresco

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.