Gagnon Securities LLC Grows Position in Ameresco, Inc. (NYSE:AMRC)

Gagnon Securities LLC raised its position in Ameresco, Inc. (NYSE:AMRC) by 22.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 571,202 shares of the utilities provider’s stock after buying an additional 104,861 shares during the quarter. Ameresco comprises 2.7% of Gagnon Securities LLC’s investment portfolio, making the stock its 12th biggest position. Gagnon Securities LLC’s holdings in Ameresco were worth $13,412,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Ameresco by 81.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock valued at $38,126,000 after buying an additional 450,571 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ameresco by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock valued at $28,642,000 after buying an additional 10,197 shares during the period. Redwood Grove Capital LLC raised its holdings in shares of Ameresco by 41.9% during the 3rd quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock valued at $18,966,000 after buying an additional 147,642 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Ameresco by 3,389.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock valued at $7,124,000 after buying an additional 179,635 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Ameresco during the 3rd quarter valued at about $6,319,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMRC has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler raised their price objective on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.90.

Ameresco Price Performance

Shares of AMRC opened at $22.60 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.56 and a beta of 1.79. The stock has a 50 day moving average of $24.88 and a 200-day moving average of $29.06. The company has a current ratio of 1.27, a quick ratio of 1.26 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.

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.