Bridgeway Capital Management LLC Purchases Shares of 244,762 Ameresco, Inc. $AMRC

Key Points

• Bridgeway Capital Management LLC has acquired a new position in Ameresco, purchasing 244,762 shares valued at approximately $2,957,000 during the first quarter, now holding 0.47% of the company.
• Numerous other large investors have also increased their stakes in Ameresco during the first quarter, with Gagnon Securities LLC boosting its stake by 69.6% and Bandera Partners LLC increasing holdings by 125.2%.
• Ameresco's latest earnings report revealed an EPS of $0.27, surpassing the consensus estimate, alongside a revenue of $472.28 million, marking a 7.8% increase year-over-year.

Bridgeway Capital Management LLC bought a new stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 244,762 shares of the utilities provider's stock, valued at approximately $2,957,000. Bridgeway Capital Management LLC owned 0.47% of Ameresco as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AMRC. Price T Rowe Associates Inc. MD boosted its position in shares of Ameresco by 6.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,273 shares of the utilities provider's stock worth $711,000 after buying an additional 1,967 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Ameresco in the 4th quarter worth about $203,000. Bank of America Corp DE boosted its position in Ameresco by 6.0% during the 4th quarter. Bank of America Corp DE now owns 196,592 shares of the utilities provider's stock worth $4,616,000 after acquiring an additional 11,163 shares during the period. Captrust Financial Advisors grew its stake in Ameresco by 25.4% during the 4th quarter. Captrust Financial Advisors now owns 22,131 shares of the utilities provider's stock valued at $520,000 after acquiring an additional 4,484 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Ameresco by 23.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 238,002 shares of the utilities provider's stock valued at $5,588,000 after purchasing an additional 44,442 shares during the period. Hedge funds and other institutional investors own 99.24% of the company's stock.

Ameresco Stock Down 2.5%

NYSE:AMRC traded down $0.69 during trading hours on Thursday, reaching $27.33. The company's stock had a trading volume of 670,882 shares, compared to its average volume of 593,934. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.40 and a beta of 2.26. The business's 50-day moving average is $20.98 and its 200-day moving average is $15.69. Ameresco, Inc. has a one year low of $8.49 and a one year high of $39.68. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.56 and a quick ratio of 1.54.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The business had revenue of $472.28 million for the quarter, compared to the consensus estimate of $415.30 million. During the same period last year, the business earned $0.10 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. Equities research analysts predict that Ameresco, Inc. will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird upgraded shares of Ameresco from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $23.00 to $35.00 in a report on Tuesday, September 2nd. B. Riley increased their target price on shares of Ameresco from $22.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group upgraded shares of Ameresco from a "sell" rating to a "neutral" rating and boosted their price target for the company from $11.00 to $23.00 in a report on Monday, August 18th. Baird R W raised shares of Ameresco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group lifted their price objective on Ameresco from $11.00 to $19.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Ameresco currently has a consensus rating of "Moderate Buy" and an average target price of $25.14.

About Ameresco

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.