Granahan Investment Management LLC Reduces Stock Position in Ameresco, Inc. (NYSE:AMRC)

Granahan Investment Management LLC lessened its holdings in shares of Ameresco, Inc. (NYSE:AMRC) by 90.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,617 shares of the utilities provider’s stock after selling 97,997 shares during the period. Granahan Investment Management LLC’s holdings in Ameresco were worth $249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in shares of Ameresco during the fourth quarter valued at approximately $146,000. Cetera Trust Company N.A increased its position in Ameresco by 6.9% during the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 440 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Ameresco in the 4th quarter worth $203,000. Canada Pension Plan Investment Board purchased a new stake in shares of Ameresco in the 4th quarter worth about $244,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Ameresco during the fourth quarter valued at about $259,000. Institutional investors own 99.24% of the company’s stock.

Ameresco Trading Up 1.4 %

NYSE AMRC opened at $13.37 on Friday. Ameresco, Inc. has a 12 month low of $8.49 and a 12 month high of $39.68. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock’s fifty day moving average price is $11.08 and its 200-day moving average price is $19.74. The stock has a market cap of $702.47 million, a P/E ratio of 13.37, a P/E/G ratio of 0.49 and a beta of 2.20.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. Ameresco’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned ($0.10) EPS. As a group, equities analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling at Ameresco

In related news, CEO George P. Sakellaris purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $9.96 per share, with a total value of $498,000.00. Following the acquisition, the chief executive officer now directly owns 903,638 shares in the company, valued at $9,000,234.48. The trade was a 5.86 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $9.67 per share, with a total value of $33,845.00. Following the completion of the acquisition, the director now directly owns 17,738 shares of the company’s stock, valued at $171,526.46. The trade was a 24.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 80,808 shares of company stock worth $785,274. Insiders own 42.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird restated a “neutral” rating and issued a $13.00 price objective (down from $25.00) on shares of Ameresco in a report on Tuesday, April 15th. UBS Group lowered Ameresco from a “buy” rating to a “sell” rating and dropped their price target for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. Baird R W cut Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Stifel Nicolaus lowered their price objective on Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Canaccord Genuity Group upped their target price on shares of Ameresco from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.33.

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.