Ameresco, Inc. (NYSE:AMRC) Position Increased by Jennison Associates LLC

Jennison Associates LLC raised its position in Ameresco, Inc. (NYSE:AMRC) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,675 shares of the utilities provider’s stock after purchasing an additional 390 shares during the quarter. Jennison Associates LLC’s holdings in Ameresco were worth $10,573,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMRC. Vanguard Group Inc. grew its stake in shares of Ameresco by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock valued at $75,909,000 after buying an additional 36,303 shares in the last quarter. LGT Group Foundation acquired a new position in shares of Ameresco during the 2nd quarter worth $20,325,000. Swedbank AB acquired a new position in shares of Ameresco during the 1st quarter worth $12,065,000. Point72 Asset Management L.P. bought a new position in shares of Ameresco during the 2nd quarter valued at $10,821,000. Finally, Redwood Grove Capital LLC acquired a new stake in shares of Ameresco in the 1st quarter valued at $7,170,000. 99.24% of the stock is owned by institutional investors and hedge funds.

Ameresco Price Performance

Shares of Ameresco stock opened at $26.37 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The company has a market cap of $1.38 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82. The firm has a fifty day moving average price of $32.56 and a two-hundred day moving average price of $31.18. Ameresco, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $39.68.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group increased their target price 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. Robert W. Baird raised their price objective on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Piper Sandler upped their target price on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of Ameresco in a research report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.91.

Ameresco Company 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.