Silvercrest Asset Management Group LLC Raises Stock Position in Ameresco, Inc. (NYSE:AMRC)

Silvercrest Asset Management Group LLC increased its holdings in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,761 shares of the utilities provider's stock after purchasing an additional 71,236 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.46% of Ameresco worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its holdings in shares of 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 purchasing an additional 196,776 shares during the last quarter. Vanguard Group Inc. grew its position in Ameresco by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider's stock valued at $74,767,000 after buying an additional 37,359 shares during the period. Barclays PLC grew its position in Ameresco by 204.2% during the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider's stock valued at $2,248,000 after buying an additional 39,773 shares during the period. Victory Capital Management Inc. grew its position in Ameresco by 96.8% during the fourth quarter. Victory Capital Management Inc. now owns 45,137 shares of the utilities provider's stock valued at $1,060,000 after buying an additional 22,197 shares during the period. Finally, Invesco Ltd. grew its position in Ameresco by 29.8% during the fourth quarter. Invesco Ltd. now owns 321,982 shares of the utilities provider's stock valued at $7,560,000 after buying an additional 73,928 shares during the period. Hedge funds and other institutional investors own 99.24% of the company's stock.

Ameresco Price Performance

Shares of NYSE AMRC traded down $0.01 during trading on Friday, hitting $13.64. The company had a trading volume of 247,759 shares, compared to its average volume of 507,486. The stock has a fifty day simple moving average of $11.84 and a two-hundred day simple moving average of $18.53. Ameresco, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $39.68. The firm has a market capitalization of $716.66 million, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 0.49 and a beta of 2.20. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC - Get Free Report) last announced its earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The business had revenue of $352.83 million for the quarter, compared to analyst estimates of $323.71 million. During the same quarter last year, the business earned ($0.10) earnings per share. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, research analysts expect that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insider Activity

In other Ameresco news, CEO George P. Sakellaris purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $9.96 per share, for a total transaction of $498,000.00. Following the completion of the transaction, the chief executive officer now owns 903,638 shares of the company's stock, valued at $9,000,234.48. The trade was a 5.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the transaction, the director now directly owns 17,738 shares of the company's stock, valued at $171,526.46. The trade was a 24.58% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 80,808 shares of company stock worth $785,274 over the last 90 days. 42.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Ameresco Company 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.