Wellington Management Group LLP Sells 29,816 Shares of Ameresco, Inc. (NYSE:AMRC)

Wellington Management Group LLP lessened its stake in Ameresco, Inc. (NYSE:AMRC - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 975,086 shares of the utilities provider's stock after selling 29,816 shares during the quarter. Wellington Management Group LLP owned approximately 1.86% of Ameresco worth $22,895,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Eagle Investment Management LLC lifted its stake in Ameresco by 87.7% during the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider's stock valued at $9,888,000 after acquiring an additional 196,776 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Ameresco by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider's stock worth $74,767,000 after purchasing an additional 37,359 shares during the last quarter. Barclays PLC boosted its holdings in Ameresco by 204.2% during the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider's stock worth $2,248,000 after purchasing an additional 39,773 shares during the last quarter. Victory Capital Management Inc. increased its stake in Ameresco by 96.8% in the 4th 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 last quarter. Finally, Invesco Ltd. boosted its position in Ameresco by 29.8% in the fourth quarter. Invesco Ltd. now owns 321,982 shares of the utilities provider's stock worth $7,560,000 after purchasing an additional 73,928 shares during the last quarter. Hedge funds and other institutional investors own 99.24% of the company's stock.

Analyst Upgrades and Downgrades

AMRC has been the subject of a number of research reports. Robert W. Baird reissued a "neutral" rating and set a $13.00 target price (down from $25.00) on shares of Ameresco in a research report on Tuesday, April 15th. Baird R W lowered Ameresco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Piper Sandler set a $21.00 price target on Ameresco and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their price target on Ameresco from $27.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, UBS Group lowered shares of Ameresco from a "buy" rating to a "sell" rating and cut their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ameresco presently has a consensus rating of "Hold" and an average price target of $20.17.

Insider Activity at Ameresco

In other Ameresco news, CEO George P. Sakellaris acquired 25,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.27 per share, with a total value of $231,750.00. Following the purchase, the chief executive officer now owns 978,638 shares of the company's stock, valued at approximately $9,071,974.26. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 27,308 shares of company stock valued at $253,429 over the last 90 days. 42.00% of the stock is owned by insiders.

Ameresco Price Performance

Shares of AMRC traded down $0.55 during midday trading on Wednesday, hitting $14.78. 315,669 shares of the company traded hands, compared to its average volume of 506,023. Ameresco, Inc. has a one year low of $8.49 and a one year high of $39.68. The firm has a market cap of $776.56 million, a P/E ratio of 14.78, a PEG ratio of 0.49 and a beta of 2.20. 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 stock has a 50-day moving average of $12.07 and a 200-day moving average of $17.87.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. The company 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%. Ameresco's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, sell-side analysts predict that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

About Ameresco

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.