Wellington Management Group LLP Has $13.29 Million Stake in Ameresco, Inc. $AMRC

Key Points

• Wellington Management Group LLP increased its stake in Ameresco, Inc. by 12.8%, purchasing an additional 125,030 shares to hold a total of 1,100,116 shares valued at approximately $13.29 million.
• Ameresco reported earnings of $0.27 per share, significantly surpassing analyst expectations of $0.06, with revenue reaching $472.28 million for the quarter, up 7.8% year-over-year.
• Institutional investors hold a significant share of Ameresco, with 99.24% of the company's stock owned by these entities, highlighting strong market interest and confidence in the company's future performance.

Wellington Management Group LLP raised its position in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,100,116 shares of the utilities provider's stock after purchasing an additional 125,030 shares during the quarter. Wellington Management Group LLP owned about 2.09% of Ameresco worth $13,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Ameresco during the 1st quarter valued at $1,043,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Ameresco by 54.0% during 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 in the last quarter. Rock Point Advisors LLC boosted its stake in shares of Ameresco by 97.7% during the 1st quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider's stock worth $6,245,000 after acquiring an additional 255,538 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Ameresco during the 1st quarter worth $250,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Ameresco by 159.8% during the 1st quarter. Victory Capital Management Inc. now owns 117,274 shares of the utilities provider's stock worth $1,417,000 after acquiring an additional 72,137 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

Ameresco Stock Up 0.4%

Shares of NYSE:AMRC traded up $0.10 during midday trading on Tuesday, hitting $25.53. 642,837 shares of the stock were exchanged, compared to its average volume of 753,245. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.54 and a current ratio of 1.56. Ameresco, Inc. has a 52-week low of $8.49 and a 52-week high of $39.68. The business's fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $15.34. The company has a market capitalization of $1.34 billion, a PE ratio of 21.82, a P/E/G ratio of 1.27 and a beta of 2.26.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The business had revenue of $472.28 million during the quarter, compared to analyst estimates of $415.30 million. During the same period last year, the company earned $0.10 earnings per share. Ameresco's quarterly revenue was up 7.8% compared to the same quarter last year. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. As a group, research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMRC shares. Jefferies Financial Group raised their price objective on Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. UBS Group raised Ameresco from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $11.00 to $23.00 in a research note on Monday, August 18th. Wall Street Zen upgraded Ameresco from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler set a $21.00 target price on Ameresco and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group increased their target price on Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.00.

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.