Victory Capital Management Inc. Acquires 72,137 Shares of Ameresco, Inc. (NYSE:AMRC)

Key Points

• Victory Capital Management Inc. increased its stake in Ameresco, Inc. by 159.8% in Q1, now owning 117,274 shares valued at approximately $1.42 million.
• Ameresco reported a quarterly EPS of ($0.11), exceeding estimates, with revenue of $352.83 million, marking an 18.2% increase year-over-year.
• Analysts' ratings for Ameresco vary, with a consensus rating of "Hold" and an average target price of $18.33.

Victory Capital Management Inc. boosted its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 159.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,274 shares of the utilities provider's stock after buying an additional 72,137 shares during the quarter. Victory Capital Management Inc. owned approximately 0.22% of Ameresco worth $1,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Ameresco in the 4th quarter valued at about $146,000. Lazard Asset Management LLC lifted its position in Ameresco by 145.0% in the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock valued at $172,000 after acquiring an additional 4,362 shares in the last quarter. GAMMA Investing LLC lifted its position in Ameresco by 132.0% in the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock valued at $97,000 after acquiring an additional 4,557 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Ameresco in the 4th quarter valued at about $203,000. Finally, JCP Investment Management LLC bought a new position in Ameresco in the 4th quarter valued at about $211,000. 99.24% of the stock is owned by institutional investors and hedge funds.

Ameresco Trading Down 6.4%

Shares of Ameresco stock traded down $1.08 during trading on Friday, reaching $15.84. The company's stock had a trading volume of 624,970 shares, compared to its average volume of 803,421. Ameresco, Inc. has a 52-week low of $8.49 and a 52-week high of $39.68. The company has a market cap of $832.25 million, a price-to-earnings ratio of 15.53, a PEG ratio of 0.80 and a beta of 2.22. The firm's 50-day moving average is $16.29 and its two-hundred day moving average is $15.26. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.50.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.15. Ameresco had a net margin of 2.97% and a return on equity of 6.32%. The company had revenue of $352.83 million during the quarter, compared to analysts' expectations of $323.71 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm's revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMRC shares. Piper Sandler set a $21.00 price target on shares of Ameresco and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Baird R W cut shares of Ameresco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Wall Street Zen cut shares of Ameresco from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Stifel Nicolaus dropped their target price on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Jefferies Financial Group lifted their target price on shares of Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $18.33.

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.