Guinness Asset Management LTD Decreases Position in Ameresco, Inc. $AMRC

Key Points

• Guinness Asset Management LTD reduced its stake in Ameresco, Inc. by 21.8%, now holding approximately $3.67 million worth of the stock after selling 84,651 shares in Q1.
• Ameresco recently reported an EPS of $0.27 for the last quarter, significantly surpassing the consensus estimate of $0.06, with revenues reaching $472.28 million.
• Analysts have recently updated their ratings for Ameresco, with Robert W. Baird upgrading the company to "outperform" and raising the price target from $23.00 to $35.00.

Guinness Asset Management LTD trimmed its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 21.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 303,165 shares of the utilities provider's stock after selling 84,651 shares during the quarter. Guinness Asset Management LTD owned 0.58% of Ameresco worth $3,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Ameresco in the 1st quarter worth about $40,000. GAMMA Investing LLC increased its position in shares of Ameresco by 132.0% during the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock valued at $97,000 after purchasing an additional 4,557 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Ameresco during the 1st quarter valued at about $114,000. Advisors Asset Management Inc. increased its position in shares of Ameresco by 57.4% during the 1st quarter. Advisors Asset Management Inc. now owns 9,744 shares of the utilities provider's stock valued at $118,000 after purchasing an additional 3,554 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Ameresco during the 1st quarter valued at about $121,000. 99.24% of the stock is currently owned by institutional investors.

Ameresco Price Performance

Shares of Ameresco stock traded up $1.45 during trading hours on Wednesday, hitting $29.82. The company's stock had a trading volume of 262,923 shares, compared to its average volume of 672,394. The business has a 50 day moving average price of $21.68 and a two-hundred day moving average price of $15.93. Ameresco, Inc. has a 12-month low of $8.49 and a 12-month high of $39.68. The company has a market cap of $1.57 billion, a PE ratio of 25.45, a PEG ratio of 1.44 and a beta of 2.26. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.54 and a current ratio of 1.56.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on AMRC shares. B. Riley increased their price objective on Ameresco from $22.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Robert W. Baird upgraded 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 research report on Tuesday, September 2nd. Wall Street Zen lowered Ameresco from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Baird R W upgraded Ameresco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Finally, UBS Group upgraded Ameresco from a "sell" rating to a "neutral" rating and raised their price target for the stock from $11.00 to $23.00 in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $25.14.

Ameresco 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.