Mirae Asset Global Investments Co. Ltd. Decreases Stake in Ameresco, Inc. (NYSE:AMRC)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Ameresco, Inc. (NYSE:AMRC) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,971 shares of the utilities provider’s stock after selling 1,934 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Ameresco worth $1,266,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMRC. Ashford Capital Management Inc. purchased a new position in Ameresco during the 3rd quarter worth $7,858,000. Wellington Management Group LLP increased its holdings in Ameresco by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Ameresco by 5.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock worth $107,181,000 after purchasing an additional 150,000 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Ameresco by 23.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 619,567 shares of the utilities provider’s stock worth $23,745,000 after acquiring an additional 116,613 shares during the last quarter. Finally, Emerald Advisers LLC raised its stake in Ameresco by 24.7% in the 3rd quarter. Emerald Advisers LLC now owns 369,431 shares of the utilities provider’s stock valued at $14,245,000 after purchasing an additional 73,185 shares during the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Stock Up 1.5 %

Shares of AMRC opened at $19.09 on Tuesday. The company has a 50-day moving average price of $21.24 and a two-hundred day moving average price of $25.63. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The stock has a market cap of $998.08 million, a price-to-earnings ratio of 16.18, a P/E/G ratio of 0.54 and a beta of 1.56. Ameresco, Inc. has a 12 month low of $17.55 and a 12 month high of $63.19.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The company had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities analysts predict that Ameresco, Inc. will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Guggenheim reiterated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. B. Riley decreased their price target on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 5th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Tuesday, March 12th. Truist Financial lowered their target price on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Monday. Finally, Canaccord Genuity Group dropped their price target on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameresco has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

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.