Connors Investor Services Inc. Trims Stock Position in Ameresco, Inc. (NYSE:AMRC)

Connors Investor Services Inc. cut its position in Ameresco, Inc. (NYSE:AMRC) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,690 shares of the utilities provider’s stock after selling 4,225 shares during the quarter. Connors Investor Services Inc. owned about 0.26% of Ameresco worth $3,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Ameresco during the 4th quarter worth $62,000. nVerses Capital LLC purchased a new position in shares of Ameresco in the 2nd quarter worth about $75,000. GAMMA Investing LLC increased its position in shares of Ameresco by 1,215.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 2,880 shares during the last quarter. SG Americas Securities LLC bought a new stake in Ameresco in the 2nd quarter worth approximately $156,000. Finally, Northside Capital Management LLC bought a new position in Ameresco during the second quarter valued at approximately $216,000. 99.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMRC. Robert W. Baird reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Ameresco in a research note on Tuesday, August 27th. StockNews.com raised Ameresco to a “sell” rating in a research report on Saturday, August 17th. Piper Sandler lowered their price objective on Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Jefferies Financial Group began coverage on Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 target price on the stock. Finally, UBS Group lifted their price target on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ameresco currently has an average rating of “Moderate Buy” and a consensus target price of $37.69.

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at $49,823.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 42.00% of the company’s stock.

Ameresco Trading Up 1.4 %

Shares of AMRC stock opened at $34.76 on Tuesday. The stock has a fifty day simple moving average of $29.91 and a two-hundred day simple moving average of $27.39. Ameresco, Inc. has a 52-week low of $17.55 and a 52-week high of $47.56. The firm has a market capitalization of $1.82 billion, a PE ratio of 31.45, a PEG ratio of 1.15 and a beta of 1.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.00 and a current ratio of 1.01.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The firm had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, analysts predict that Ameresco, Inc. will post 1.16 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.