Kayne Anderson Capital Advisors LP Sells 51,985 Shares of Ameresco, Inc. (NYSE:AMRC)

Kayne Anderson Capital Advisors LP decreased its stake in shares of Ameresco, Inc. (NYSE:AMRCGet Rating) by 44.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,055 shares of the utilities provider’s stock after selling 51,985 shares during the quarter. Kayne Anderson Capital Advisors LP owned approximately 0.13% of Ameresco worth $4,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC increased its position in Ameresco by 31.4% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,109,772 shares of the utilities provider’s stock valued at $141,681,000 after purchasing an additional 742,726 shares during the period. Vanguard Group Inc. increased its position in Ameresco by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,796,974 shares of the utilities provider’s stock valued at $222,359,000 after purchasing an additional 26,868 shares during the period. BlackRock Inc. increased its position in Ameresco by 3.2% during the 1st quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock valued at $187,241,000 after purchasing an additional 72,667 shares during the period. Handelsbanken Fonder AB increased its position in Ameresco by 9.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,249,150 shares of the utilities provider’s stock valued at $149,523,000 after purchasing an additional 192,301 shares during the period. Finally, abrdn plc increased its position in Ameresco by 8.1% during the 2nd quarter. abrdn plc now owns 1,195,491 shares of the utilities provider’s stock valued at $53,690,000 after purchasing an additional 90,004 shares during the period. Institutional investors own 57.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMRC. Canaccord Genuity Group lifted their price objective on shares of Ameresco from $79.00 to $81.00 in a research report on Wednesday, November 2nd. Raymond James lifted their price objective on shares of Ameresco from $65.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 13th. Canaccord Genuity Group lifted their price objective on shares of Ameresco from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Tuesday, January 10th. Finally, B. Riley dropped their target price on shares of Ameresco from $73.00 to $72.00 in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.77.

Ameresco Stock Performance

NYSE AMRC traded down $2.47 on Wednesday, hitting $61.67. 20,954 shares of the company’s stock traded hands, compared to its average volume of 228,741. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $60.51 and its two-hundred day moving average price is $61.51. Ameresco, Inc. has a 1-year low of $40.73 and a 1-year high of $86.73. The firm has a market capitalization of $3.20 billion, a PE ratio of 31.61, a P/E/G ratio of 1.30 and a beta of 1.07.

Ameresco (NYSE:AMRCGet Rating) last posted its earnings results on Tuesday, November 1st. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.07. Ameresco had a net margin of 5.51% and a return on equity of 14.15%. The firm had revenue of $441.30 million during the quarter, compared to analysts’ expectations of $418.61 million. As a group, analysts expect that Ameresco, Inc. will post 1.9 EPS for the current year.

About Ameresco

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Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.

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Institutional Ownership by Quarter for Ameresco (NYSE:AMRC)

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