DNB Asset Management AS Has $34.74 Million Stake in Ameresco, Inc. $AMRC

DNB Asset Management AS reduced its stake in shares of Ameresco, Inc. (NYSE:AMRC) by 13.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,034,594 shares of the utilities provider’s stock after selling 155,120 shares during the quarter. DNB Asset Management AS’s holdings in Ameresco were worth $34,742,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new position in Ameresco in the 3rd quarter valued at $50,000. Tower Research Capital LLC TRC lifted its stake in shares of Ameresco by 99.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 1,754 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Ameresco in the third quarter valued at about $76,000. Nkcfo LLC acquired a new stake in Ameresco in the third quarter worth about $107,000. Finally, Cetera Trust Company N.A raised its holdings in Ameresco by 35.5% during the 2nd quarter. Cetera Trust Company N.A now owns 9,215 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 2,415 shares during the last quarter. Institutional investors own 99.24% of the company’s stock.

Ameresco Stock Performance

AMRC stock opened at $30.39 on Friday. Ameresco, Inc. has a 1-year low of $8.49 and a 1-year high of $44.93. The company has a current ratio of 1.51, a quick ratio of 1.50 and a debt-to-equity ratio of 1.57. The firm has a market cap of $1.60 billion, a PE ratio of 25.54, a P/E/G ratio of 1.10 and a beta of 2.53. The business’s 50-day moving average price is $31.45 and its two-hundred day moving average price is $31.99.

Insider Buying and Selling at Ameresco

In related news, Director Nickolas Stavropoulos sold 15,700 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $34.15, for a total value of $536,155.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 16,645 shares of company stock worth $568,297. Insiders own 44.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMRC. UBS Group raised their target price on shares of Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Stifel Nicolaus raised their price objective on shares of Ameresco from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Jefferies Financial Group set a $45.00 target price on shares of Ameresco and gave the stock a “buy” rating in a report on Tuesday, November 4th. B. Riley Financial increased their price target on Ameresco from $32.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Roth Mkm restated a “buy” rating on shares of Ameresco in a research report on Wednesday, December 3rd. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

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.