Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Ameresco, Inc. (NYSE:AMRC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ameresco, Inc. (NYSE:AMRC) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,620 shares of the utilities provider’s stock after acquiring an additional 2,980 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameresco were worth $508,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AMRC. Bridge City Capital LLC raised its holdings in shares of Ameresco by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 622 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Ameresco by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 752 shares in the last quarter. Otter Creek Advisors LLC increased its holdings in shares of Ameresco by 1.2% in the 4th quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after acquiring an additional 818 shares during the last quarter. Clean Yield Group raised its position in shares of Ameresco by 0.6% during the 2nd quarter. Clean Yield Group now owns 170,007 shares of the utilities provider’s stock worth $4,898,000 after acquiring an additional 1,087 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Ameresco by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 1,410 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group increased their price target on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Robert W. Baird restated an “outperform” rating and issued a $32.00 price objective on shares of Ameresco in a research note on Tuesday, August 27th. Piper Sandler cut their target price on Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group initiated coverage on Ameresco in a report on Wednesday. They issued a “hold” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.69.

Ameresco Stock Down 7.0 %

AMRC stock opened at $29.41 on Friday. The stock has a market capitalization of $1.54 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.78. The company has a fifty day moving average of $29.37 and a 200-day moving average of $26.90. 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, Inc. has a one year low of $17.55 and a one year high of $47.56.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The firm had revenue of $437.98 million during the quarter, compared to analyst estimates of $373.75 million. During the same quarter in the previous year, the business earned $0.15 EPS. Ameresco’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

Insider Activity at Ameresco

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

Ameresco Company 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.