Bank of New York Mellon Corp Has $3.73 Million Position in Ameresco, Inc. (NYSE:AMRC)

Bank of New York Mellon Corp increased its holdings in Ameresco, Inc. (NYSE:AMRC) by 24.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,427 shares of the utilities provider’s stock after purchasing an additional 25,121 shares during the period. Bank of New York Mellon Corp owned approximately 0.25% of Ameresco worth $3,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMRC. Natixis bought a new stake in shares of Ameresco in the 1st quarter worth about $480,000. Harbor Capital Advisors Inc. grew its stake in Ameresco by 187.8% during the second quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock worth $1,982,000 after buying an additional 44,882 shares during the last quarter. Swedbank AB acquired a new stake in shares of Ameresco during the first quarter worth approximately $12,065,000. Connors Investor Services Inc. raised its stake in shares of Ameresco by 35.4% in the first quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock valued at $3,449,000 after acquiring an additional 37,368 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in Ameresco during the 1st quarter worth approximately $1,009,000. Institutional investors own 99.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMRC shares. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Saturday, August 17th. Robert W. Baird reiterated an “outperform” rating and set a $32.00 price target on shares of Ameresco in a research report on Tuesday, August 27th. B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a research report on Tuesday, June 25th. UBS Group upped their target price on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Piper Sandler lowered their price target on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.69.

Ameresco Price Performance

Ameresco stock opened at $34.28 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.80 billion, a P/E ratio of 31.16, a PEG ratio of 1.15 and a beta of 1.78. The business has a 50-day moving average of $29.91 and a 200-day moving average of $27.34. Ameresco, Inc. has a 1 year low of $17.55 and a 1 year high of $47.56.

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

Insider Buying and Selling

In related news, CFO Spencer Doran Hole sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 in the company, valued at approximately $49,823.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 42.00% of the stock is currently owned by company insiders.

Ameresco Profile

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.