Bayesian Capital Management LP Purchases New Position in Ameresco, Inc. (NYSE:AMRC)

Bayesian Capital Management LP purchased a new stake in Ameresco, Inc. (NYSE:AMRC) during the first quarter, according to its most recent filing with the SEC. The firm purchased 10,867 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other hedge funds have also modified their holdings of AMRC. Quest Partners LLC acquired a new stake in shares of Ameresco in the 4th quarter valued at approximately $62,000. Cetera Trust Company N.A acquired a new stake in Ameresco during the 4th quarter worth approximately $106,000. CANADA LIFE ASSURANCE Co raised its holdings in Ameresco by 51.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,931 shares of the utilities provider’s stock worth $239,000 after buying an additional 3,374 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Ameresco by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after buying an additional 1,410 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Ameresco during the 1st quarter worth approximately $259,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Price Performance

NYSE:AMRC opened at $31.58 on Thursday. Ameresco, Inc. has a 1-year low of $17.55 and a 1-year high of $59.66. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $32.03 and a 200 day simple moving average of $25.71. The stock has a market capitalization of $1.65 billion, a PE ratio of 28.71, a P/E/G ratio of 0.89 and a beta of 1.78.

Ameresco (NYSE:AMRC) last released its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The business had revenue of $298.41 million during the quarter, compared to analysts’ expectations of $255.38 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, research analysts expect that Ameresco, Inc. will post 1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ameresco news, CAO Mark Chiplock sold 3,000 shares of Ameresco stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $35.00, for a total transaction of $105,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 348 shares of the company’s stock, valued at $12,180. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 42.00% of the company’s stock.

Analyst Upgrades and Downgrades

AMRC has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Ameresco from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. UBS Group raised their target price on shares of Ameresco from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Raymond James decreased their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus decreased their price target on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.85.

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.