Bayesian Capital Management LP Purchases New Shares in Ameresco, Inc. (NYSE:AMRC)

Bayesian Capital Management LP purchased a new stake in Ameresco, Inc. (NYSE:AMRC) in the first quarter, Holdings Channel.com reports. The fund purchased 10,867 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMRC. Daiwa Securities Group Inc. grew its stake in Ameresco by 17.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 181,800 shares of the utilities provider’s stock valued at $5,758,000 after purchasing an additional 27,300 shares during the period. Cetera Trust Company N.A bought a new position in Ameresco in the 4th quarter valued at $106,000. Trustees of Princeton University bought a new position in Ameresco in the 4th quarter valued at $7,170,000. Victory Capital Management Inc. grew its stake in Ameresco by 8.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 752 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Ameresco by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 252,083 shares of the utilities provider’s stock valued at $7,983,000 after purchasing an additional 3,160 shares during the period. 99.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on Ameresco from $30.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Truist Financial cut their price target on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Stifel Nicolaus cut their price target on Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Raymond James cut their price target on Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.85.

Insider Activity

In related news, CAO Mark Chiplock sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total value of $105,000.00. Following the completion of the sale, the chief accounting officer now owns 348 shares in the company, valued at approximately $12,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 42.00% of the company’s stock.

Ameresco Stock Performance

Shares of AMRC opened at $31.58 on Thursday. The company has a market cap of $1.65 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 0.89 and a beta of 1.78. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $32.03 and a 200-day moving average price of $25.71. Ameresco, Inc. has a 12-month low of $17.55 and a 12-month high of $59.66.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $298.41 million during the quarter, compared to the consensus estimate of $255.38 million. Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. As a group, equities analysts forecast that Ameresco, Inc. will post 1.38 earnings per share for the current fiscal year.

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.