Royce & Associates LP Raises Stock Position in Ameresco, Inc. $AMRC

Royce & Associates LP boosted its position in shares of Ameresco, Inc. (NYSE:AMRC) by 197.6% in the third quarter, Holdings Channel reports. The fund owned 964,010 shares of the utilities provider’s stock after purchasing an additional 640,106 shares during the quarter. Royce & Associates LP’s holdings in Ameresco were worth $32,371,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new position in Ameresco in the third quarter worth approximately $50,000. Wealth Enhancement Advisory Services LLC bought a new position in Ameresco in the 3rd quarter worth $76,000. Nkcfo LLC purchased a new position in Ameresco during the third quarter valued at $107,000. Tower Research Capital LLC TRC grew its holdings in Ameresco by 99.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,754 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Ameresco in the third quarter worth about $201,000. 99.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMRC. UBS Group boosted their price objective on Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Ameresco in a research note on Monday, December 29th. William Blair upgraded shares of Ameresco to a “hold” rating in a research report on Tuesday, January 27th. Wall Street Zen cut shares of Ameresco from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Stifel Nicolaus upped their target price on shares of Ameresco from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Insider Activity at Ameresco

In related news, Director Nickolas Stavropoulos sold 15,700 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $34.15, for a total value of $536,155.00. Following the completion of the transaction, the director directly owned 14,111 shares of the company’s stock, valued at approximately $481,890.65. This trade represents a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 16,645 shares of company stock worth $568,297. 44.96% of the stock is currently owned by corporate insiders.

Ameresco Stock Down 4.6%

AMRC opened at $30.39 on Monday. Ameresco, Inc. has a 52 week low of $8.49 and a 52 week high of $44.93. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.57. The firm has a 50-day simple moving average of $31.45 and a two-hundred day simple moving average of $32.16. The company has a market capitalization of $1.60 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.05 and a beta of 2.53.

About Ameresco

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.