Wellington Management Group LLP Purchases 450,571 Shares of Ameresco, Inc. (NYSE:AMRC)

Wellington Management Group LLP lifted its stake in Ameresco, Inc. (NYSE:AMRC) by 81.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,004,902 shares of the utilities provider’s stock after purchasing an additional 450,571 shares during the period. Wellington Management Group LLP’s holdings in Ameresco were worth $38,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LGT Group Foundation bought a new position in shares of Ameresco during the 2nd quarter valued at about $20,325,000. Redwood Grove Capital LLC increased its position in Ameresco by 41.9% during the third quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock valued at $18,966,000 after acquiring an additional 147,642 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Ameresco in the 2nd quarter worth about $10,821,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Ameresco by 3,389.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock worth $7,124,000 after buying an additional 179,635 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Ameresco by 190.4% during the second quarter. American Century Companies Inc. now owns 184,281 shares of the utilities provider’s stock worth $5,309,000 after purchasing an additional 120,833 shares during the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Analysts Set New Price Targets

AMRC has been the subject of several research reports. Jefferies Financial Group began coverage on Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 target price for the company. Stifel Nicolaus raised their target price on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler boosted their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Robert W. Baird upped their target price on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.91.

Ameresco Trading Down 2.9 %

NYSE:AMRC opened at $25.16 on Friday. The firm has a market cap of $1.32 billion, a P/E ratio of 25.16, a PEG ratio of 0.96 and a beta of 1.76. Ameresco, Inc. has a 12-month low of $17.55 and a 12-month high of $39.68. The stock’s 50 day simple moving average is $29.77 and its 200-day simple moving average is $31.08. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36.

About Ameresco

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.