Royal Bank of Canada cut its position in Ameresco, Inc. (NYSE:AMRC – Free Report) by 15.9% during the first quarter, HoldingsChannel.com reports. The fund owned 504,148 shares of the utilities provider’s stock after selling 95,413 shares during the period. Royal Bank of Canada’s holdings in Ameresco were worth $12,857,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Ameresco by 10.3% during the 4th quarter. Legal & General Group Plc now owns 467,562 shares of the utilities provider’s stock worth $13,695,000 after purchasing an additional 43,832 shares during the last quarter. Swedbank AB raised its position in shares of Ameresco by 219.0% in the fourth quarter. Swedbank AB now owns 370,000 shares of the utilities provider’s stock valued at $10,837,000 after buying an additional 254,000 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Ameresco by 10.7% in the fourth quarter. Royce & Associates LP now owns 1,066,792 shares of the utilities provider’s stock worth $31,246,000 after buying an additional 102,782 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Ameresco by 7.5% during the fourth quarter. Handelsbanken Fonder AB now owns 650,836 shares of the utilities provider’s stock worth $19,063,000 after acquiring an additional 45,506 shares during the last quarter. Finally, Penn Capital Management Company LLC grew its stake in Ameresco by 314.0% during the 4th quarter. Penn Capital Management Company LLC now owns 82,659 shares of the utilities provider’s stock valued at $2,421,000 after acquiring an additional 62,695 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.
Ameresco Trading Up 0.8%
AMRC opened at $25.76 on Friday. Ameresco, Inc. has a one year low of $18.38 and a one year high of $44.93. The stock has a market capitalization of $1.36 billion, a PE ratio of 49.54, a P/E/G ratio of 1.87 and a beta of 2.62. The business’s 50 day moving average price is $26.07 and its 200 day moving average price is $28.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.48 and a current ratio of 1.67.
Insider Buying and Selling
In other Ameresco news, Director Jennifer L. Miller sold 10,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.27, for a total transaction of $322,700.00. Following the completion of the transaction, the director owned 22,111 shares of the company’s stock, valued at $713,521.97. This trade represents a 31.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nickolas Stavropoulos sold 1,355 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $34.00, for a total transaction of $46,070.00. Following the completion of the transaction, the director owned 14,111 shares in the company, valued at approximately $479,774. This represents a 8.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 26,355 shares of company stock valued at $852,270. 45.10% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have commented on AMRC shares. BNP Paribas Exane upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $40.00 in a report on Tuesday. Guggenheim started coverage on Ameresco in a research report on Friday, May 22nd. They issued a “neutral” rating for the company. Robert W. Baird reduced their price objective on Ameresco from $44.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Wall Street Zen upgraded Ameresco from a “sell” rating to a “hold” rating in a report on Saturday. Finally, UBS Group raised their target price on Ameresco from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ameresco has an average rating of “Moderate Buy” and an average price target of $43.33.
Get Our Latest Analysis on Ameresco
Ameresco Company Profile
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.
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