Pier Capital LLC Makes New Investment in Ameresco, Inc. $AMRC

Pier Capital LLC bought a new stake in Ameresco, Inc. (NYSE:AMRC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 104,380 shares of the utilities provider’s stock, valued at approximately $3,505,000.

Several other large investors also recently modified their holdings of AMRC. First Trust Advisors LP raised its position in shares of Ameresco by 1,832.5% during the second quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock worth $26,965,000 after purchasing an additional 1,683,326 shares during the period. Royce & Associates LP grew its position in shares of Ameresco by 197.6% in the 3rd quarter. Royce & Associates LP now owns 964,010 shares of the utilities provider’s stock valued at $32,371,000 after purchasing an additional 640,106 shares during the period. Handelsbanken Fonder AB increased its stake in Ameresco by 91.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 605,330 shares of the utilities provider’s stock worth $20,327,000 after purchasing an additional 289,381 shares in the last quarter. Walleye Capital LLC increased its stake in Ameresco by 1,838.0% during the 2nd quarter. Walleye Capital LLC now owns 194,474 shares of the utilities provider’s stock worth $2,954,000 after purchasing an additional 184,439 shares in the last quarter. Finally, Redwood Grove Capital LLC raised its holdings in Ameresco by 36.0% during the 2nd quarter. Redwood Grove Capital LLC now owns 679,833 shares of the utilities provider’s stock worth $10,327,000 after buying an additional 179,943 shares during the period. 99.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. B. Riley Financial lifted their price target on shares of Ameresco from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Wall Street Zen lowered shares of Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. UBS Group boosted their price objective on shares of Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. William Blair raised shares of Ameresco to a “hold” rating in a research note on Tuesday, January 27th. Finally, Roth Mkm reissued a “buy” rating on shares of Ameresco in a research note on Wednesday, December 3rd. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ameresco has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Ameresco Price Performance

Shares of AMRC opened at $26.25 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. Ameresco, Inc. has a twelve month low of $8.49 and a twelve month high of $44.93. The stock has a market capitalization of $1.39 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.03 and a beta of 2.53. The company has a 50 day moving average of $30.94 and a 200-day moving average of $32.32.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $581.03 million for the quarter, compared to analyst estimates of $556.09 million. Ameresco had a net margin of 2.29% and a return on equity of 4.49%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of Ameresco stock in a transaction on Friday, February 20th. The shares were sold at an average price of $34.15, for a total value of $536,155.00. Following the sale, the director directly owned 14,111 shares in the company, valued at approximately $481,890.65. The trade was a 52.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 17,020 shares of company stock valued at $577,840 over the last ninety days. 44.96% of the stock is currently owned by company insiders.

About Ameresco

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.