Harvest Portfolios Group Inc. Buys New Position in Ameresco, Inc. (NYSE:AMRC)

Harvest Portfolios Group Inc. purchased a new position in shares of Ameresco, Inc. (NYSE:AMRC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,405 shares of the utilities provider’s stock, valued at approximately $471,000.

A number of other large investors have also recently bought and sold shares of AMRC. Vanguard Group Inc. boosted its holdings in Ameresco by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock worth $75,909,000 after purchasing an additional 36,303 shares during the last quarter. LGT Group Foundation bought a new stake in Ameresco during the 2nd quarter worth about $20,325,000. Swedbank AB acquired a new position in shares of Ameresco during the 1st quarter worth about $12,065,000. Point72 Asset Management L.P. bought a new position in shares of Ameresco in the 2nd quarter valued at about $10,821,000. Finally, Redwood Grove Capital LLC bought a new position in shares of Ameresco in the 1st quarter valued at about $7,170,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the transaction, the chief financial officer now directly owns 1,878 shares in the company, valued at approximately $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is currently owned by corporate insiders.

Ameresco Trading Down 9.2 %

Shares of AMRC stock opened at $32.14 on Thursday. Ameresco, Inc. has a 12-month low of $17.55 and a 12-month high of $39.68. The company has a market capitalization of $1.68 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.82. The firm has a 50 day moving average price of $33.37 and a two-hundred day moving average price of $30.79. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. As a group, analysts predict that Ameresco, Inc. will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMRC has been the subject of several recent research reports. UBS Group increased their price target on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. StockNews.com raised Ameresco to a “sell” rating in a report on Wednesday, October 16th. Piper Sandler boosted their target price on shares of 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 shares of Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Robert W. Baird lifted their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.73.

Ameresco Company 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.