Bank of New York Mellon Corp Purchases 859 Shares of Ameresco, Inc. (NYSE:AMRC)

Bank of New York Mellon Corp grew its position in Ameresco, Inc. (NYSE:AMRC) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 101,730 shares of the utilities provider’s stock after acquiring an additional 859 shares during the period. Bank of New York Mellon Corp’s holdings in Ameresco were worth $2,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMRC. Point72 Asia Singapore Pte. Ltd. raised its stake in Ameresco by 1,294.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,279 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after acquiring an additional 440 shares during the period. FMR LLC raised its stake in shares of Ameresco by 257.9% in the third quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 3,855 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Ameresco in the fourth quarter valued at $259,000. Finally, Holocene Advisors LP purchased a new stake in shares of Ameresco in the third quarter valued at $275,000. 99.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the purchase, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. This trade represents a 24.58 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George P. Sakellaris purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $9.96 per share, with a total value of $498,000.00. Following the transaction, the chief executive officer now directly owns 903,638 shares of the company’s stock, valued at approximately $9,000,234.48. This represents a 5.86 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 80,808 shares of company stock valued at $785,274 and have sold 40,085 shares valued at $843,378. Corporate insiders own 42.00% of the company’s stock.

Ameresco Trading Up 5.1 %

Shares of AMRC stock opened at $13.45 on Friday. The business’s fifty day moving average price is $17.86 and its 200 day moving average price is $25.65. Ameresco, Inc. has a 1-year low of $9.04 and a 1-year high of $39.68. The firm has a market capitalization of $706.52 million, a PE ratio of 13.45, a P/E/G ratio of 0.49 and a beta of 2.07. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26.

Ameresco (NYSE:AMRC) last posted its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. The company had revenue of $532.67 million for the quarter, compared to analyst estimates of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. As a group, sell-side analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

AMRC has been the topic of several recent analyst reports. Stifel Nicolaus reduced their target price on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. UBS Group cut shares of Ameresco from a “buy” rating to a “sell” rating and dropped their target price for the stock from $37.00 to $8.00 in a report on Tuesday, March 4th. Canaccord Genuity Group decreased their price target on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Robert W. Baird decreased their price target on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.63.

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.