Ameresco CFO sells $3,688 worth of stock via Investing.com

A recent filing with the Securities and Exchange Commission revealed that Mark Chiplock, the executive vice president, chief financial officer and chief accounting officer of Ameresco, Inc. (NYSE: ), a leader in energy efficiency and renewable energy solutions, has sold a portion of its shares in the company.

The transaction, which occurred on September 19, 2024, involved the sale of 98 shares of Class A common stock at a price of $37.64 per share, for a total value of approximately $3,688. This sale was made pursuant to an automatic hedge sale instruction to cover applicable withholding taxes related to the partial grant of restricted stock units (RSUs).

According to footnotes in the filing, the RSUs, which represent a contingent right to receive shares of Ameresco common stock, were granted to Chiplock on March 17, 2023, and are to vest in 25% increments every six months from on the date of grant. . It is also noted that the shares were sold only to cover applicable withholding taxes in connection with the vesting of RSUs.

Following this sale, Chiplock’s ownership in the company is 527 shares of Class A common stock. This represents a decrease from the 625 shares it held following a transaction on September 17, 2024, in which it acquired 277 shares through awarding RSUs at no cost.

Investors often monitor insider trading because they can provide insight into an executive’s view of the company’s stock value and financial health. However, such transactions, which are related to the granting of equity awards, are usually pre-planned and do not necessarily indicate a change in the director’s confidence in the company.

Ameresco, Inc. specializes in specialty commercial construction contracting and is known for its commitment to sustainability and energy efficiency. The company’s stock is publicly traded on the New York Stock Exchange under the symbol AMRC.

In other recent news, clean technology integrator Ameresco, Inc. is nearing completion of two major battery energy storage projects in partnership with Southern California Edison (SCE). The company is set to receive approximately $110 million from SCE, marking a significant milestone. A third project is anticipated to reach substantial completion in the fourth quarter of 2024. In financial developments, Ameresco reported a 34% increase in Q2 revenue to $438 million and a record 36% increase , up to $4.4 billion. However, due to cost overruns from SCE projects, the company adjusted its fiscal 2024 EBITDA guidance by 2%, Piper Sandler reported.

Equity research firm Baird maintains an Outperform rating on Ameresco, anticipating that the company’s strategic additions to its energy assets will lead to earnings above current and consensus estimates over the medium to long term. In collaboration with the City of Somersworth, Ameresco initiated a substantial solar PV installation at the Somersworth Landfill that is expected to produce over 67 million kWh over two decades. The company has also been involved in other notable projects, including a $33 million energy efficiency upgrade at the US National Archives and a $249 million battery energy storage system in the United Kingdom in collaboration with Envision Energy. These recent developments provide insight into Ameresco’s ongoing initiatives.

InvestingPro Insights

As Ameresco, Inc. (NYSE:AMRC) continues to make headlines for insider trading, investors looking to understand the company’s broader financial context can turn to recent metrics and analyst information. According to InvestingPro data, Ameresco currently has a market cap of $1.9 billion and trades at a price-to-earnings (P/E) ratio of 32.93, which is adjusted to 30.79 for the trailing twelve months from with Q2 2024.

The company’s revenue has grown by 10.34% over the past twelve months since Q2 2024, indicating an upward sales trajectory. This aligns with one of the InvestingPro Tips, which highlights that analysts anticipate sales growth this year. Additionally, Ameresco stock has seen a significant return over the past week with a total price return of 9.24% and an impressive 82.05% return over the past six months. These figures suggest that the stock has performed well in the short to medium term.

However, it’s important to consider that Ameresco is operating with a significant debt load and is burning through cash quickly, as noted in two other InvestingPro tips. These factors can be critical for investors to watch because they can affect the company’s long-term financial stability and growth prospects. For a more comprehensive analysis, including additional information, investors can access more than 15 InvestingPro Tips for Ameresco, Inc. at https://www.investing.com/pro/AMRC.

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