ARGA Investment Management LP Trims Position in Ameresco, Inc. (NYSE:AMRC)

ARGA Investment Management LP trimmed its stake in Ameresco, Inc. (NYSE:AMRC) by 36.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,879 shares of the utilities provider’s stock after selling 10,855 shares during the period. ARGA Investment Management LP’s holdings in Ameresco were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Ameresco by 100.3% during the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 391 shares in the last quarter. nVerses Capital LLC purchased a new position in Ameresco during the 2nd quarter worth $75,000. Point72 DIFC Ltd bought a new stake in Ameresco during the 2nd quarter valued at $86,000. GAMMA Investing LLC lifted its holdings in shares of Ameresco by 1,215.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock worth $90,000 after buying an additional 2,880 shares during the period. Finally, FMR LLC grew its position in shares of Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after buying an additional 3,855 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors.

Ameresco Stock Performance

Shares of AMRC opened at $28.17 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.48 billion, a PE ratio of 28.23, a P/E/G ratio of 0.99 and a beta of 1.82. Ameresco, Inc. has a 12 month low of $17.55 and a 12 month high of $39.68. The stock has a fifty day moving average price of $31.60 and a 200-day moving average price of $31.25.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMRC. Robert W. Baird lifted their price objective on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target for the company. UBS Group upped their price target on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. StockNews.com raised shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. Finally, Piper Sandler boosted their price objective on shares of Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.91.

Ameresco Profile

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.