BlackRock Inc. increased its stake in shares of Ameresco, Inc. (NYSE:AMRC) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,113,204 shares of the utilities provider’s stock after purchasing an additional 72,783 shares during the quarter. BlackRock Inc. owned approximately 4.12% of Ameresco worth $132,541,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new stake in Ameresco during the 2nd quarter worth approximately $32,000. Gradient Investments LLC bought a new stake in Ameresco during the 2nd quarter worth approximately $82,000. Exchange Traded Concepts LLC grew its holdings in Ameresco by 20.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,491 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 248 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Ameresco by 42.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,502 shares of the utilities provider’s stock worth $72,000 after acquiring an additional 445 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in Ameresco by 16.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,423 shares of the utilities provider’s stock worth $152,000 after acquiring an additional 338 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.
AMRC opened at $61.63 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $65.44 and its two-hundred day moving average price is $59.53. Ameresco, Inc. has a 1-year low of $37.11 and a 1-year high of $75.88. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 3.00 and a beta of 0.43.
A number of research firms have recently commented on AMRC. Bank of America lowered shares of Ameresco from a “buy” rating to a “neutral” rating and upped their price objective for the company from $65.00 to $70.00 in a research note on Friday, July 23rd. Piper Sandler upped their price objective on shares of Ameresco from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, September 14th. Canaccord Genuity reduced their price objective on shares of Ameresco from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, August 4th. B. Riley upped their price objective on shares of Ameresco from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 1st. Finally, Zacks Investment Research raised shares of Ameresco from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 5th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $67.60.
In other news, SVP Lauren Todd sold 3,000 shares of the stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $67.40, for a total value of $202,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George P. Sakellaris sold 3,572 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $69.26, for a total transaction of $247,396.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,766 shares of company stock worth $10,203,787. Corporate insiders own 41.68% of the company’s stock.
Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.
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