New York State Common Retirement Fund Sells 19,199 Shares of Ameresco, Inc. (NYSE:AMRC)

Key Points

• The New York State Common Retirement Fund reduced its stake in Ameresco, Inc. by 66.7%, holding 9,571 shares worth approximately $116,000 after selling 19,199 shares in the first quarter.
• Ameresco reported a quarterly earnings per share of ($0.11), exceeding estimates, with a revenue of $352.83 million, representing an 18.2% year-over-year increase.
• Analysts have mixed ratings on Ameresco, with an average rating of "Hold" and a consensus target price of $18.33, following recent downgrades and upgrades from various firms.

New York State Common Retirement Fund cut its holdings in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 66.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,571 shares of the utilities provider's stock after selling 19,199 shares during the quarter. New York State Common Retirement Fund's holdings in Ameresco were worth $116,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Ameresco by 132.0% in the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock worth $97,000 after acquiring an additional 4,557 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Ameresco in the 4th quarter worth about $146,000. Lazard Asset Management LLC increased its holdings in Ameresco by 145.0% in the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock worth $172,000 after acquiring an additional 4,362 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Ameresco in the 4th quarter worth about $203,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Ameresco by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,964 shares of the utilities provider's stock worth $205,000 after acquiring an additional 5,949 shares during the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their price objective on Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. UBS Group restated a "sell" rating and issued a $11.00 target price on shares of Ameresco in a research note on Tuesday, June 3rd. Piper Sandler set a $21.00 target price on Ameresco and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Baird R W downgraded Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus cut their target price on Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Ameresco currently has an average rating of "Hold" and an average price target of $18.33.

Ameresco Price Performance

Shares of AMRC traded up $0.35 during trading hours on Thursday, reaching $17.06. 89,442 shares of the company's stock traded hands, compared to its average volume of 657,437. The stock has a market cap of $896.07 million, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.85 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. The firm's 50 day simple moving average is $16.12 and its 200-day simple moving average is $15.35. Ameresco, Inc. has a 12 month low of $8.49 and a 12 month high of $39.68.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $352.83 million during the quarter, compared to the consensus estimate of $323.71 million. Ameresco had a return on equity of 6.32% and a net margin of 2.97%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. Equities analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

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.