Portolan Capital Management LLC Invests $5.87 Million in Ameresco, Inc. $AMRC

Portolan Capital Management LLC bought a new stake in shares of Ameresco, Inc. (NYSE:AMRC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 174,903 shares of the utilities provider’s stock, valued at approximately $5,873,000. Portolan Capital Management LLC owned 0.33% of Ameresco at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. First Trust Advisors LP lifted its position in Ameresco by 1,832.5% in the second quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock valued at $26,965,000 after purchasing an additional 1,683,326 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ameresco by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,238,322 shares of the utilities provider’s stock valued at $41,584,000 after buying an additional 5,431 shares during the last quarter. DNB Asset Management AS boosted its position in Ameresco by 3.8% during the 2nd quarter. DNB Asset Management AS now owns 1,189,714 shares of the utilities provider’s stock valued at $18,072,000 after buying an additional 43,411 shares during the period. Royce & Associates LP grew its holdings in Ameresco by 197.6% in the 3rd quarter. Royce & Associates LP now owns 964,010 shares of the utilities provider’s stock worth $32,371,000 after acquiring an additional 640,106 shares during the last quarter. Finally, Redwood Grove Capital LLC raised its stake in shares of Ameresco by 36.0% during the second quarter. Redwood Grove Capital LLC now owns 679,833 shares of the utilities provider’s stock valued at $10,327,000 after acquiring an additional 179,943 shares during the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameresco

In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of Ameresco stock in a transaction on Friday, February 20th. The stock was sold at an average price of $34.15, for a total transaction of $536,155.00. Following the completion of the transaction, the director owned 14,111 shares in the company, valued at approximately $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 17,020 shares of company stock valued at $577,840. Corporate insiders own 44.96% of the company’s stock.

Ameresco Trading Down 5.9%

Shares of NYSE AMRC opened at $24.73 on Friday. Ameresco, Inc. has a 1 year low of $8.49 and a 1 year high of $44.93. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.50. The firm has a 50-day moving average of $30.82 and a 200 day moving average of $32.32. The stock has a market cap of $1.31 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 2.06 and a beta of 2.53.

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

Analyst Ratings Changes

Several analysts recently issued reports on AMRC shares. Weiss Ratings cut Ameresco from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. B. Riley Financial raised their price target on Ameresco from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. UBS Group reduced their price objective on shares of Ameresco from $40.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday. Wall Street Zen lowered shares of Ameresco from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Canaccord Genuity Group increased their price target on shares of Ameresco from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

Ameresco Profile

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.