Diametric Capital LP Boosts Position in Ameresco, Inc. (NYSE:AMRC)

Diametric Capital LP raised its stake in Ameresco, Inc. (NYSE:AMRC) by 70.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,858 shares of the utilities provider’s stock after purchasing an additional 5,710 shares during the period. Diametric Capital LP’s holdings in Ameresco were worth $325,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Ameresco by 81.3% in 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 in the last quarter. DnB Asset Management AS lifted its position in Ameresco by 59.6% in the fourth quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider’s stock valued at $14,403,000 after acquiring an additional 229,128 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Ameresco by 87.7% in the fourth quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock valued at $9,888,000 after acquiring an additional 196,776 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Ameresco during the third quarter worth about $6,319,000. Finally, Redwood Grove Capital LLC increased its position in shares of Ameresco by 41.9% during the third quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock worth $18,966,000 after purchasing an additional 147,642 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMRC shares. Canaccord Genuity Group decreased their target price on Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Robert W. Baird decreased their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Stifel Nicolaus cut their target price on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, UBS Group downgraded shares of Ameresco from a “buy” rating to a “sell” rating and reduced their price target for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.63.

Ameresco Stock Performance

NYSE:AMRC opened at $11.97 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The firm has a market cap of $629.02 million, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 0.49 and a beta of 2.07. The firm’s fifty day moving average price is $16.27 and its 200 day moving average price is $24.64. Ameresco, Inc. has a 1-year low of $9.04 and a 1-year high of $39.68.

Ameresco (NYSE:AMRC) last issued 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 business had revenue of $532.67 million for the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. On average, sell-side analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

Insider Transactions at Ameresco

In related news, CEO George P. Sakellaris purchased 25,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.27 per share, with a total value of $231,750.00. Following the purchase, the chief executive officer now directly owns 978,638 shares in the company, valued at $9,071,974.26. This trade represents a 2.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the transaction, the director now owns 17,225 shares of the company’s stock, valued at $362,758.50. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 80,808 shares of company stock valued at $785,274 and sold 40,085 shares valued at $843,378. Company insiders own 42.00% of the company’s stock.

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.