Victory Capital Management Inc. Grows Stock Holdings in 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. grew its position in Ameresco, Inc. (NYSE:AMRC - Free Report) by 159.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,274 shares of the utilities provider's stock after purchasing an additional 72,137 shares during the period. Victory Capital Management Inc. owned approximately 0.22% of Ameresco worth $1,417,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its holdings in shares of Ameresco by 124.4% in the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider's stock valued at $19,682,000 after purchasing an additional 464,737 shares during the last quarter. Rock Point Advisors LLC grew its position in shares of Ameresco by 97.7% in the first quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider's stock valued at $6,245,000 after purchasing an additional 255,538 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ameresco by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider's stock valued at $27,230,000 after purchasing an additional 214,918 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Ameresco by 731.8% in the first quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider's stock valued at $2,787,000 after purchasing an additional 202,970 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Ameresco by 78.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 330,355 shares of the utilities provider's stock valued at $4,043,000 after purchasing an additional 145,420 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMRC. Wall Street Zen downgraded Ameresco from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Stifel Nicolaus cut their price target on Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Jefferies Financial Group boosted their price target on Ameresco from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $13.00 price target (down from $25.00) on shares of Ameresco in a research note on Tuesday, April 15th. Finally, Canaccord Genuity Group boosted their price target on Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.33.

Ameresco Price Performance

Shares of AMRC traded down $1.08 during mid-day trading on Friday, reaching $15.84. 624,961 shares of the stock traded hands, compared to its average volume of 660,053. The firm has a fifty day moving average price of $16.24 and a 200 day moving average price of $15.31. The company has a market cap of $832.23 million, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.79 and a beta of 2.22. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.50. Ameresco, Inc. has a 1 year low of $8.49 and a 1 year high of $39.68.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. The business had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. Ameresco had a net margin of 2.97% and a return on equity of 6.32%. The company's revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, equities research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

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.