State Street Corp Cuts Stake in Ameresco, Inc. (NYSE:AMRC)

State Street Corp cut its holdings in shares of Ameresco, Inc. (NYSE:AMRC) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,125,730 shares of the utilities provider’s stock after selling 5,557 shares during the quarter. State Street Corp owned 2.15% of Ameresco worth $42,710,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 391 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Ameresco by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 12,374 shares of the utilities provider’s stock valued at $356,000 after buying an additional 489 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Ameresco by 19.8% in the third quarter. GAMMA Investing LLC now owns 3,735 shares of the utilities provider’s stock worth $142,000 after buying an additional 618 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Ameresco by 1,294.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 2,279 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Ameresco during the 2nd quarter valued at about $75,000. 99.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AMRC shares. Piper Sandler lifted their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Stifel Nicolaus increased their price target on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group started coverage on shares of Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target on the stock. Finally, Robert W. Baird increased their target price on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.90.

Ameresco Trading Down 3.5 %

AMRC opened at $22.10 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. Ameresco, Inc. has a 52 week low of $17.55 and a 52 week high of $39.68. The stock has a market cap of $1.16 billion, a PE ratio of 22.10, a PEG ratio of 0.90 and a beta of 1.76. The business has a 50 day moving average of $28.94 and a 200-day moving average of $30.74.

About Ameresco

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.