Connors Investor Services Inc. Sells 4,225 Shares of Ameresco, Inc. (NYSE:AMRC)

Connors Investor Services Inc. trimmed its position in Ameresco, Inc. (NYSE:AMRC) by 3.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 138,690 shares of the utilities provider’s stock after selling 4,225 shares during the quarter. Connors Investor Services Inc.’s holdings in Ameresco were worth $3,996,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bridge City Capital LLC grew its stake in shares of Ameresco by 0.8% during the first quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock worth $1,927,000 after acquiring an additional 622 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Ameresco by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after buying an additional 752 shares during the last quarter. Otter Creek Advisors LLC boosted its stake in shares of Ameresco by 1.2% in the fourth quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock worth $2,181,000 after buying an additional 818 shares during the last quarter. Clean Yield Group grew its holdings in Ameresco by 0.6% during the second quarter. Clean Yield Group now owns 170,007 shares of the utilities provider’s stock worth $4,898,000 after acquiring an additional 1,087 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Ameresco by 15.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 1,410 shares in the last quarter. 99.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMRC shares. Robert W. Baird reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Ameresco in a research note on Tuesday, August 27th. Jefferies Financial Group started coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 target price on the stock. Piper Sandler cut their price target on Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Saturday, August 17th. Finally, UBS Group boosted their price objective on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.69.

Insider Buying and Selling at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.00% of the stock is currently owned by insiders.

Ameresco Stock Performance

Shares of Ameresco stock opened at $34.76 on Tuesday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 1.15 and a beta of 1.78. Ameresco, Inc. has a 12 month low of $17.55 and a 12 month high of $47.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. The business has a 50-day moving average of $29.91 and a 200 day moving average of $27.39.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). The company had revenue of $437.98 million during the quarter, compared to analyst estimates of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that Ameresco, Inc. will post 1.16 earnings per share for the current year.

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.