Voloridge Investment Management LLC Boosts Holdings in Ameresco, Inc. (NYSE:AMRC)

Voloridge Investment Management LLC boosted its holdings in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,861 shares of the utilities provider's stock after purchasing an additional 19,626 shares during the period. Voloridge Investment Management LLC owned about 0.58% of Ameresco worth $7,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMRC. KLP Kapitalforvaltning AS purchased a new stake in Ameresco in the 4th quarter worth $146,000. Lazard Asset Management LLC lifted its holdings in shares of Ameresco by 145.0% in the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock valued at $172,000 after acquiring an additional 4,362 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Ameresco in the 4th quarter valued at about $203,000. JCP Investment Management LLC bought a new position in shares of Ameresco in the 4th quarter valued at about $211,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Ameresco by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 9,074 shares of the utilities provider's stock valued at $213,000 after acquiring an additional 2,986 shares during the last quarter. Hedge funds and other institutional investors own 99.24% of the company's stock.

Analysts Set New Price Targets

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

Ameresco Stock Performance

Shares of Ameresco stock traded down $0.13 on Friday, reaching $14.24. 98,857 shares of the company were exchanged, compared to its average volume of 503,534. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The company's 50-day moving average is $11.92 and its two-hundred day moving average is $18.20. The firm has a market cap of $747.92 million, a price-to-earnings ratio of 14.24, a P/E/G ratio of 0.49 and a beta of 2.20. Ameresco, Inc. has a 1-year low of $8.49 and a 1-year 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 the consensus estimate of ($0.26) by $0.15. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $352.83 million for the quarter, compared to analysts' expectations of $323.71 million. During the same period last year, the firm earned ($0.10) EPS. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, research analysts expect that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.