Dimensional Fund Advisors LP Acquires 263,393 Shares of Altus Power, Inc. (NYSE:AMPS)

Dimensional Fund Advisors LP lifted its holdings in Altus Power, Inc. (NYSE:AMPS) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,648,599 shares of the company’s stock after buying an additional 263,393 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Altus Power were worth $14,850,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quinn Opportunity Partners LLC bought a new position in shares of Altus Power during the fourth quarter valued at approximately $1,887,000. abrdn plc boosted its holdings in Altus Power by 7.3% in the fourth quarter. abrdn plc now owns 1,550,200 shares of the company’s stock worth $6,418,000 after acquiring an additional 105,800 shares in the last quarter. Barclays PLC grew its stake in shares of Altus Power by 312.8% in the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after acquiring an additional 87,886 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Altus Power by 48.1% during the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company’s stock valued at $1,088,000 after acquiring an additional 86,797 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new position in shares of Altus Power in the 4th quarter worth about $333,000. 46.55% of the stock is currently owned by institutional investors.

Altus Power Stock Performance

AMPS opened at $5.00 on Friday. The company’s 50 day moving average is $4.97 and its 200 day moving average is $4.37. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market cap of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94. Altus Power, Inc. has a 12-month low of $2.71 and a 12-month high of $5.50.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $44.47 million for the quarter, compared to analysts’ expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. On average, equities research analysts predict that Altus Power, Inc. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the transaction, the insider now directly owns 4,088,231 shares in the company, valued at $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dustin Weber sold 15,480 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $4.96, for a total transaction of $76,780.80. Following the sale, the chief financial officer now owns 1,966,208 shares in the company, valued at $9,752,391.68. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,422 shares of company stock worth $1,093,796 over the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMPS has been the topic of several analyst reports. Roth Mkm reiterated a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a research note on Friday, March 21st. UBS Group downgraded Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Monday, February 10th. B. Riley downgraded Altus Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday, February 6th. Finally, Roth Capital cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.13.

About Altus Power

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.