Invesco Ltd. Sells 228,692 Shares of Altus Power, Inc. (NYSE:AMPS)

Invesco Ltd. reduced its stake in Altus Power, Inc. (NYSE:AMPS - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,995,131 shares of the company's stock after selling 228,692 shares during the period. Invesco Ltd. owned approximately 2.48% of Altus Power worth $16,260,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in Altus Power by 11,326.2% during the 4th quarter. US Bancorp DE now owns 9,598 shares of the company's stock worth $39,000 after buying an additional 9,514 shares during the period. HighTower Advisors LLC acquired a new position in shares of Altus Power in the third quarter worth about $41,000. Citizens Financial Group Inc. RI acquired a new position in shares of Altus Power in the fourth quarter worth about $41,000. SevenBridge Financial Group LLC purchased a new position in Altus Power in the fourth quarter valued at about $41,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Altus Power during the 4th quarter valued at approximately $53,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dustin Weber sold 15,480 shares of Altus Power stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $4.96, for a total value of $76,780.80. Following the completion of the transaction, the chief financial officer now directly owns 1,966,208 shares of the company's stock, valued at $9,752,391.68. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregg J. Felton sold 71,161 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the transaction, the chief executive officer now owns 4,023,696 shares in the company, valued at approximately $19,756,347.36. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,422 shares of company stock worth $1,093,796. Insiders own 24.30% of the company's stock.

Altus Power Stock Performance

NYSE AMPS traded down $0.01 during trading hours on Friday, reaching $5.00. The company's stock had a trading volume of 5,274,621 shares, compared to its average volume of 1,759,019. The stock has a market cap of $801.30 million, a PE ratio of 22.70 and a beta of 0.94. The business has a 50-day simple moving average of $4.95 and a 200 day simple moving average of $4.25. Altus Power, Inc. has a 52 week low of $2.71 and a 52 week high of $5.50. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10.

Altus Power (NYSE:AMPS - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million for the quarter, compared to analyst estimates of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. Equities research analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMPS has been the topic of a number of recent analyst reports. Roth Capital lowered Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. B. Riley downgraded shares of Altus Power from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Friday, February 7th. Seaport Res Ptn lowered shares of Altus Power from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. upgraded shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a research note on Thursday, February 6th. Finally, UBS Group downgraded Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 price target for the company. in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Altus Power presently has an average rating of "Hold" and a consensus price target of $5.13.

About Altus Power

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.