Vanguard Group Inc. Increases Holdings in Altus Power, Inc. (NYSE:AMPS)

Vanguard Group Inc. grew its position in Altus Power, Inc. (NYSE:AMPS - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,871,155 shares of the company's stock after purchasing an additional 438,845 shares during the period. Vanguard Group Inc. owned about 2.42% of Altus Power worth $20,324,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ensign Peak Advisors Inc bought a new stake in shares of Altus Power in the 3rd quarter valued at about $26,000. JPMorgan Chase & Co. acquired a new stake in Altus Power during the 1st quarter valued at $39,000. Advisors Asset Management Inc. acquired a new stake in Altus Power during the 4th quarter valued at $37,000. Royal Bank of Canada acquired a new stake in Altus Power during the 1st quarter valued at $46,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Altus Power during the fourth quarter worth $41,000. Institutional investors and hedge funds own 46.55% of the company's stock.

Insider Buying and Selling at Altus Power

In other news, CEO Lars Norell sold 40,000 shares of the company's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.58, for a total transaction of $223,200.00. Following the transaction, the chief executive officer now owns 21,654,907 shares of the company's stock, valued at approximately $120,834,381.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Altus Power news, CEO Gregg J. Felton purchased 12,500 shares of the stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $4.78 per share, with a total value of $59,750.00. Following the acquisition, the chief executive officer now directly owns 11,894,603 shares in the company, valued at approximately $56,856,202.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lars Norell sold 40,000 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $5.58, for a total value of $223,200.00. Following the completion of the sale, the chief executive officer now directly owns 21,654,907 shares in the company, valued at approximately $120,834,381.06. The disclosure for this sale can be found here. Insiders sold 83,673 shares of company stock worth $530,948 in the last quarter. 31.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMPS. B. Riley raised their price target on Altus Power from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Morgan Stanley restated an "overweight" rating and set a $9.00 price target on shares of Altus Power in a report on Thursday. Roth Mkm reduced their price target on Altus Power from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 15th. Finally, Maxim Group began coverage on Altus Power in a research note on Wednesday, April 10th. They issued a "buy" rating and a $7.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $8.63.

Altus Power Price Performance

Shares of NYSE:AMPS traded down $0.26 during trading on Monday, reaching $3.95. 1,575,105 shares of the stock were exchanged, compared to its average volume of 1,067,301. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.15 and a quick ratio of 2.15. Altus Power, Inc. has a 1-year low of $3.92 and a 1-year high of $7.28. The stock has a fifty day moving average of $5.75 and a two-hundred day moving average of $5.61.

Altus Power (NYSE:AMPS - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The company had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. Sell-side analysts anticipate that Altus Power, Inc. will post -0.1 EPS for the current fiscal year.

Altus Power Company Profile

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.