Kayne Anderson Capital Advisors LP Cuts Stock Position in Ameresco, Inc. (NYSE:AMRC)

Kayne Anderson Capital Advisors LP lessened its holdings in Ameresco, Inc. (NYSE:AMRC) by 51.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,847 shares of the utilities provider’s stock after selling 96,834 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.17% of Ameresco worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Cetera Trust Company N.A acquired a new stake in Ameresco in the fourth quarter valued at $106,000. Dynamic Advisor Solutions LLC lifted its stake in shares of Ameresco by 24.6% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,672 shares of the utilities provider’s stock valued at $275,000 after purchasing an additional 1,712 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Ameresco during the third quarter worth approximately $295,000. Victory Capital Management Inc. grew its stake in Ameresco by 8.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after buying an additional 752 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Ameresco by 25.1% in the third quarter. Inspire Investing LLC now owns 8,008 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 1,607 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Stock Performance

NYSE:AMRC traded down $0.33 during trading hours on Thursday, reaching $26.61. 51,801 shares of the stock were exchanged, compared to its average volume of 529,491. Ameresco, Inc. has a 52 week low of $17.55 and a 52 week high of $63.19. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $1.39 billion, a P/E ratio of 22.27, a P/E/G ratio of 0.65 and a beta of 1.60. The firm has a 50 day simple moving average of $21.28 and a 200-day simple moving average of $24.73.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. As a group, sell-side analysts forecast that Ameresco, Inc. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMRC. BNP Paribas upgraded Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Tuesday, March 12th. B. Riley dropped their target price on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Piper Sandler decreased their price target on Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Canaccord Genuity Group lowered their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Truist Financial decreased their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ameresco currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.42.

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.