Ironwood Investment Management LLC Has $483,000 Position in Ameresco, Inc. (NYSE:AMRC)

Ironwood Investment Management LLC reduced its stake in Ameresco, Inc. (NYSE:AMRC) by 12.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,591 shares of the utilities provider’s stock after selling 2,981 shares during the quarter. Ironwood Investment Management LLC’s holdings in Ameresco were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC lifted its holdings in Ameresco by 87.7% in the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after purchasing an additional 196,776 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Ameresco by 96.8% in the 4th quarter. Victory Capital Management Inc. now owns 45,137 shares of the utilities provider’s stock worth $1,060,000 after purchasing an additional 22,197 shares during the last quarter. Nicola Wealth Management LTD. lifted its holdings in Ameresco by 3.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 55,000 shares of the utilities provider’s stock worth $1,291,000 after purchasing an additional 2,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ameresco by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock worth $2,389,000 after buying an additional 859 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC acquired a new position in shares of Ameresco during the fourth quarter worth approximately $707,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Stock Performance

Shares of NYSE AMRC opened at $10.55 on Friday. The business has a fifty day simple moving average of $19.66 and a 200 day simple moving average of $26.39. Ameresco, Inc. has a one year low of $9.04 and a one year high of $39.68. The firm has a market capitalization of $554.41 million, a price-to-earnings ratio of 10.55, a PEG ratio of 0.49 and a beta of 2.07. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, beating 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 analysts’ expectations of $524.31 million. Sell-side analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the sale, the director now owns 17,225 shares in the company, valued at approximately $362,758.50. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis V. Wisneski, Jr. bought 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the acquisition, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. The trade was a 24.58 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 80,808 shares of company stock worth $785,274 over the last three months. 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.