Wellington Management Group LLP Cuts Holdings in Ameresco, Inc. (NYSE:AMRC)

Wellington Management Group LLP cut its holdings in Ameresco, Inc. (NYSE:AMRC) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975,086 shares of the utilities provider’s stock after selling 29,816 shares during the quarter. Wellington Management Group LLP owned 1.86% of Ameresco worth $22,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 3,855 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Ameresco during the fourth quarter worth $146,000. Cetera Trust Company N.A boosted its position in Ameresco by 6.9% during the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 440 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Ameresco in the fourth quarter valued at $259,000. Finally, Verition Fund Management LLC increased its position in shares of Ameresco by 50.4% in the third quarter. Verition Fund Management LLC now owns 11,285 shares of the utilities provider’s stock valued at $428,000 after buying an additional 3,780 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

Insider Buying and Selling

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

Ameresco Trading Down 6.1 %

Shares of Ameresco stock opened at $10.16 on Tuesday. Ameresco, Inc. has a fifty-two week low of $9.04 and a fifty-two week high of $39.68. The business’s fifty day moving average is $15.35 and its two-hundred day moving average is $23.95. 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 firm has a market cap of $533.55 million, a PE ratio of 10.16, a P/E/G ratio of 0.49 and a beta of 2.02.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The firm had revenue of $532.67 million for the quarter, compared to analyst estimates of $524.31 million. Analysts anticipate that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group lowered their price objective on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus dropped their price objective on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. UBS Group downgraded Ameresco from a “buy” rating to a “sell” rating and cut their price objective for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird lowered their target price on Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ameresco has a consensus rating of “Moderate Buy” and an average price target of $26.57.

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.