Point72 Asset Management L.P. Sells 252,351 Shares of Ameresco, Inc. (NYSE:AMRC)

Point72 Asset Management L.P. trimmed its position in Ameresco, Inc. (NYSE:AMRC - Free Report) by 83.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,746 shares of the utilities provider's stock after selling 252,351 shares during the period. Point72 Asset Management L.P. owned about 0.10% of Ameresco worth $1,192,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMRC. First Trust Advisors LP grew its stake 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 worth $19,682,000 after acquiring an additional 464,737 shares in the last quarter. DnB Asset Management AS grew its position in Ameresco by 59.6% during the fourth quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider's stock worth $14,403,000 after buying an additional 229,128 shares during the period. 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. First Eagle Investment Management LLC boosted its position in Ameresco by 87.7% during the fourth quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider's stock worth $9,888,000 after acquiring an additional 196,776 shares during the last quarter. Finally, Gagnon Securities LLC raised its stake in Ameresco by 22.5% during the fourth quarter. Gagnon Securities LLC now owns 571,202 shares of the utilities provider's stock worth $13,412,000 after purchasing an additional 104,861 shares during the period. 99.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Francis V. Wisneski, Jr. acquired 3,500 shares of Ameresco stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $9.67 per share, with a total value of $33,845.00. Following the transaction, the director now directly owns 17,738 shares in the company, valued at $171,526.46. This represents a 24.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George P. Sakellaris acquired 25,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief executive officer now owns 978,638 shares in the company, valued at approximately $9,071,974.26. This represents a 2.62% increase in their position. The disclosure for this purchase can be found here. Insiders bought 80,808 shares of company stock valued at $785,274 over the last quarter. 42.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Baird R W lowered shares of Ameresco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. UBS Group lowered shares of Ameresco from a "buy" rating to a "sell" rating and cut their price target for the company from $37.00 to $8.00 in a report on Tuesday, March 4th. Stifel Nicolaus decreased their target price on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Canaccord Genuity Group increased their price target on shares of Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Piper Sandler set a $21.00 target price on shares of Ameresco and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Ameresco has an average rating of "Hold" and a consensus price target of $20.17.

Ameresco Price Performance

AMRC traded up $0.44 on Tuesday, hitting $14.09. 56,686 shares of the stock were exchanged, compared to its average volume of 505,723. Ameresco, Inc. has a 12 month low of $8.49 and a 12 month high of $39.68. The business has a 50-day moving average of $11.85 and a two-hundred day moving average of $18.35. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The firm has a market capitalization of $740.04 million, a price-to-earnings ratio of 13.99, a PEG ratio of 0.49 and a beta of 2.20.

Ameresco (NYSE:AMRC - Get Free Report) last posted its earnings results on Monday, May 5th. The utilities provider reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.15. The firm had revenue of $352.83 million during the quarter, compared to analysts' expectations of $323.71 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Sell-side analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal 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.