Ameresco, Inc. $AMRC Holdings Cut by Vanguard Group Inc.

Key Points

• Vanguard Group reduced its stake in Ameresco by 3.5% in Q3, leaving it with 2,412,360 shares—about 4.59% of the company—worth roughly $81.0 million.
• Director Nickolas Stavropoulos sold 15,700 shares on Feb. 20 (cutting his holding by 52.7%), and insiders have sold a total of 16,645 shares in the past three months, indicating notable insider selling activity.
• Ameresco beat quarterly expectations with $0.39 EPS vs. $0.32 expected and revenue of $581.0 million (+9.1% YoY); the stock trades around $27.12 versus an average analyst price target of $40.10.

Vanguard Group Inc. lowered its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,412,360 shares of the utilities provider's stock after selling 88,529 shares during the period. Vanguard Group Inc. owned about 4.59% of Ameresco worth $81,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC purchased a new position in Ameresco in the third quarter valued at about $50,000. Tower Research Capital LLC TRC lifted its holdings in shares of Ameresco by 99.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider's stock valued at $53,000 after buying an additional 1,754 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Ameresco in the 3rd quarter valued at approximately $76,000. Cetera Trust Company N.A grew its stake in shares of Ameresco by 35.5% in the 2nd quarter. Cetera Trust Company N.A now owns 9,215 shares of the utilities provider's stock valued at $140,000 after buying an additional 2,415 shares in the last quarter. Finally, Creative Planning acquired a new position in Ameresco in the second quarter worth approximately $153,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameresco

In other news, Director Nickolas Stavropoulos sold 15,700 shares of the firm's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $34.15, for a total value of $536,155.00. Following the sale, the director owned 14,111 shares in the company, valued at approximately $481,890.65. This trade represents a 52.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 16,645 shares of company stock valued at $568,297 over the last three months. 44.96% of the stock is currently owned by corporate insiders.

Ameresco Stock Down 3.7%

Ameresco stock opened at $27.12 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.50. Ameresco, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $44.93. The firm has a fifty day moving average price of $31.29 and a two-hundred day moving average price of $32.21. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 2.20 and a beta of 2.53.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.07. Ameresco had a return on equity of 4.49% and a net margin of 2.29%.The business had revenue of $581.03 million for the quarter, compared to analyst estimates of $556.09 million. During the same period in the previous year, the company posted $0.88 earnings per share. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMRC. Canaccord Genuity Group lifted their target price on shares of Ameresco from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Ameresco in a research note on Wednesday. B. Riley Financial upped their price objective on shares of Ameresco from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen lowered Ameresco from a "hold" rating to a "sell" rating in a report on Saturday, January 10th. Finally, William Blair raised Ameresco to a "hold" rating in a research report on Tuesday, January 27th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Ameresco has an average rating of "Moderate Buy" and an average price target of $40.10.

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.

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