JPMorgan Chase & Co. Decreases Position in Ameresco, Inc. $AMRC

Key Points

• JPMorgan Chase & Co. cut its stake in Ameresco by 75.3% in Q3, selling 63,122 shares and leaving 20,751 shares valued at about $697,000.
• Ameresco beat quarterly expectations, reporting EPS of $0.39 versus $0.32 and revenue of $581.03M versus $556.09M, with revenue up 9.1% year‑over‑year.
• A company director sold 15,700 shares (a 52.7% reduction in their holding); insiders now own 44.96% of the stock, and analysts’ consensus is a “Moderate Buy” with an average price target of $39.00.

JPMorgan Chase & Co. lessened its position in Ameresco, Inc. (NYSE:AMRC - Free Report) by 75.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,751 shares of the utilities provider's stock after selling 63,122 shares during the period. JPMorgan Chase & Co.'s holdings in Ameresco were worth $697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC bought a new position in shares of Ameresco in the third quarter worth approximately $50,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Ameresco in the third quarter worth approximately $76,000. Nkcfo LLC bought a new position in shares of Ameresco in the third quarter worth approximately $107,000. Tower Research Capital LLC TRC lifted its stake in shares of Ameresco by 99.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider's stock worth $53,000 after buying an additional 1,754 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Ameresco in the third quarter worth approximately $201,000. Institutional investors own 99.24% of the company's stock.

Ameresco Stock Up 0.3%

AMRC opened at $26.47 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The firm has a 50 day moving average price of $28.60 and a 200-day moving average price of $32.18. Ameresco, Inc. has a twelve month low of $8.49 and a twelve month high of $44.93. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.18 and a beta of 2.61.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMRC. Cantor Fitzgerald reiterated an "overweight" rating on shares of Ameresco in a research note on Wednesday, March 4th. William Blair upgraded shares of Ameresco to a "hold" rating in a research note on Tuesday, January 27th. Canaccord Genuity Group upped their target price on shares of Ameresco from $44.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Wall Street Zen cut shares of Ameresco from a "hold" rating to a "sell" rating in a report on Saturday, January 10th. Finally, B. Riley Financial boosted their price objective on shares of Ameresco from $45.00 to $47.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $39.00.

Insider Buying and Selling at Ameresco

In related news, Director Nickolas Stavropoulos sold 15,700 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $34.15, for a total transaction of $536,155.00. Following the completion of the sale, the director directly owned 14,111 shares in the company, valued at approximately $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 17,020 shares of company stock worth $577,840 over the last three months. 44.96% of the stock is owned by insiders.

Ameresco Company Profile

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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