First Trust Advisors LP Grows Stock Holdings in Ameresco, Inc. (NYSE:AMRC)

First Trust Advisors LP boosted its holdings in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 124.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 838,258 shares of the utilities provider's stock after purchasing an additional 464,737 shares during the period. First Trust Advisors LP owned about 1.60% of Ameresco worth $19,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in Ameresco in the 4th quarter valued at $146,000. Cetera Trust Company N.A boosted its stake in Ameresco by 6.9% during the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider's stock worth $160,000 after purchasing an additional 440 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Ameresco during the fourth quarter worth $244,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ameresco in the fourth quarter valued at about $259,000. Finally, Intech Investment Management LLC lifted its stake in shares of Ameresco by 31.5% in the fourth quarter. Intech Investment Management LLC now owns 12,447 shares of the utilities provider's stock worth $292,000 after buying an additional 2,983 shares in the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Trading Up 8.4 %

NYSE:AMRC traded up $0.93 on Friday, reaching $11.99. 100,270 shares of the company's stock were exchanged, compared to its average volume of 679,859. The business has a fifty day moving average of $11.30 and a 200-day moving average of $20.62. 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, Inc. has a 52-week low of $8.49 and a 52-week high of $39.68. The firm has a market capitalization of $629.97 million, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 0.49 and a beta of 2.02.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The company had revenue of $532.67 million during the quarter, compared to analysts' expectations of $524.31 million. As a group, analysts expect that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO George P. Sakellaris bought 50,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price 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 approximately $9,000,234.48. This trade represents a 5.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the transaction, 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 disclosure for this purchase can be found here. In the last quarter, insiders have purchased 80,808 shares of company stock worth $785,274 and have sold 40,085 shares worth $843,378. 42.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AMRC. UBS Group cut 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. Canaccord Genuity Group reduced their price target on Ameresco from $36.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus cut their price objective on shares of Ameresco from $34.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Baird R W lowered shares of Ameresco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Robert W. Baird restated a "neutral" rating and set a $13.00 price target (down previously from $25.00) on shares of Ameresco in a report on Tuesday, April 15th. Two research 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 stock. According to data from MarketBeat, Ameresco presently has a consensus rating of "Hold" and an average target price of $22.83.

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.