Rock Point Advisors LLC Cuts Stock Holdings in Ameresco, Inc. (NYSE:AMRC)

Rock Point Advisors LLC reduced its stake in shares of Ameresco, Inc. (NYSE:AMRC) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 232,052 shares of the utilities provider’s stock after selling 12,519 shares during the quarter. Ameresco accounts for approximately 2.4% of Rock Point Advisors LLC’s portfolio, making the stock its 13th largest holding. Rock Point Advisors LLC owned about 0.44% of Ameresco worth $8,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ameresco by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock valued at $75,909,000 after acquiring an additional 36,303 shares during the period. LGT Group Foundation bought a new stake in shares of Ameresco in the 2nd quarter worth approximately $20,325,000. Swedbank AB purchased a new stake in shares of Ameresco in the 1st quarter worth approximately $12,065,000. Point72 Asset Management L.P. bought a new position in Ameresco during the 2nd quarter valued at approximately $10,821,000. Finally, Redwood Grove Capital LLC purchased a new position in Ameresco during the first quarter valued at $7,170,000. Institutional investors own 99.24% of the company’s stock.

Ameresco Price Performance

NYSE AMRC traded down $0.25 during trading hours on Tuesday, reaching $26.95. The company’s stock had a trading volume of 11,623 shares, compared to its average volume of 468,241. Ameresco, Inc. has a 1 year low of $17.55 and a 1 year high of $39.68. The firm’s 50-day moving average price is $32.40 and its 200-day moving average price is $31.30. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 0.88 and a beta of 1.82.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMRC. Stifel Nicolaus increased their target price on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Jefferies Financial Group assumed coverage on Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 target price on the stock. Robert W. Baird boosted their price target on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Finally, Piper Sandler lifted their price objective on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.91.

Ameresco 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.