Rhumbline Advisers Lowers Stake in Ameresco, Inc. (AMRC)
Rhumbline Advisers cut its position in shares of Ameresco, Inc. (NYSE:AMRC) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,614 shares of the utilities provider’s stock after selling 3,150 shares during the period. Rhumbline Advisers’ holdings in Ameresco were worth $174,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Ameresco by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 121,189 shares of the utilities provider’s stock valued at $794,000 after buying an additional 773 shares in the last quarter. Teachers Advisors LLC boosted its stake in Ameresco by 13.6% in the 4th quarter. Teachers Advisors LLC now owns 34,253 shares of the utilities provider’s stock valued at $188,000 after buying an additional 4,112 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ameresco by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 850,929 shares of the utilities provider’s stock valued at $5,573,000 after buying an additional 60,657 shares in the last quarter. Pillar Pacific Capital Management LLC acquired a new stake in Ameresco in the 2nd quarter valued at $151,000. Finally, Gagnon Advisors LLC boosted its stake in Ameresco by 0.3% in the 2nd quarter. Gagnon Advisors LLC now owns 932,445 shares of the utilities provider’s stock valued at $7,180,000 after buying an additional 2,345 shares in the last quarter. Institutional investors and hedge funds own 23.83% of the company’s stock.
Several brokerages recently commented on AMRC. BidaskClub lowered Ameresco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $9.00 price target on Ameresco and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Ameresco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Canaccord Genuity boosted their price target on Ameresco from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ameresco presently has a consensus rating of “Buy” and an average price target of $8.25.
Shares of Ameresco, Inc. (NYSE AMRC) opened at 7.85 on Tuesday. The firm has a market cap of $357.39 million, a price-to-earnings ratio of 26.08 and a beta of 1.14. Ameresco, Inc. has a 52 week low of $4.60 and a 52 week high of $8.00. The company has a 50-day moving average price of $7.60 and a 200 day moving average price of $6.96.
Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06. Ameresco had a return on equity of 5.23% and a net margin of 2.16%. The firm had revenue of $166.70 million for the quarter, compared to analyst estimates of $162.53 million. During the same quarter last year, the company earned $0.08 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Ameresco, Inc. will post $0.42 EPS for the current fiscal year.
In other news, insider Joseph P. Demanche sold 4,220 shares of Ameresco stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $7.80, for a total value of $32,916.00. Following the transaction, the insider now owns 200,000 shares in the company, valued at approximately $1,560,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 7,213 shares of company stock worth $56,860. Corporate insiders own 58.36% of the company’s stock.
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Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.
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