Ameresco executive sells more than $3,900 worth of company stock to Investing.com

Framingham, MA – In a recent transaction, Peter Christakis, Executive Vice President of Ameresco, Inc. (NYSE: ), sold 104 shares of the company’s Class A common stock at a price of $37.64 per share, totaling approximately $3,914. The sale was executed on September 19, 2024 and was reported in a filing with the Securities and Exchange Commission.

Peter Christakis, who serves as the company’s energy efficiency and renewable energy officer, made the sale pursuant to an automated sell-to-cover instruction that was established to cover applicable withholding taxes associated with the partial grant of restricted stock units ( MSW). According to the footnotes in the SEC filing, this instruction was implemented on March 7, 2023, in connection with the grant of RSUs.

The RSUs, which represent a contingent right to receive Ameresco shares, were granted to Christakis on March 17, 2023 and are set to vest over two years, with 25% vesting every six months from the date of grant.

Following the sale, Christakis’ ownership of Ameresco is 11,561 shares of Class A common stock.

The recent transaction reflects the common practice of executives selling shares to satisfy tax obligations arising from the grant of equity awards. It is part of the routine financial planning and diversification strategies that corporate insiders frequently use.

Investors and market watchers often look to insider trading as a single piece of data to measure the confidence executives and directors have in their company’s prospects. However, such sales do not necessarily indicate a corporate insider’s view of the company’s future performance, but may be related to personal financial management.

Ameresco, Inc. specializes in energy efficiency solutions and is headquartered in Framingham, Massachusetts. The company operates in the construction trade contractors sector and is incorporated in Delaware.

In other recent news, Ameresco, Inc. has made significant progress in clean energy solutions with notable developments in earnings, partnerships and project completions. The company reported a 34% increase in Q2 revenue to $438 million and a record 36% increase to $4.4 billion. In addition, Ameresco is nearing completion of two major energy storage projects in partnership with Southern California Edison Company (SCE), marking a significant step in its efforts to provide energy efficiency and renewable energy solutions.

Equity research firm Baird maintains an Outperform rating on Ameresco, indicating positive expectations based on the company’s strategic additions to its energy assets. However, Ameresco adjusted its fiscal 2024 EBITDA guidance by 2% due to cost overruns from Southern California Edison projects, Piper Sandler reported.

In collaboration with the City of Somersworth, Ameresco initiated a substantial solar photovoltaic (PV) installation at the Somersworth Landfill, a project estimated to produce more than 67 million kWh over two decades. In addition, Ameresco has been involved in other significant 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 contribute to Ameresco’s continued commitment to renewable energy and energy efficiency solutions.

InvestingPro Insights

As investors consider the implications of insider trading at Ameresco, Inc. (NYSE:AMRC), it’s important to look at the company’s financials and market performance to gain a broader perspective. According to InvestingPro data, Ameresco has a market capitalization of about $1.9 billion, reflecting the company’s size and market value based on its current share price.

The company’s P/E ratio, a measure of the stock’s current price relative to its earnings per share, is 32.93, with a slight adjustment to 30.79 when looking at the trailing twelve months to Q2 2024. This suggests that investors are willing to pay a higher price for Ameresco’s earnings, which could indicate expectations for future growth. However, the PEG ratio, which represents growth, is 3.99 for the same period, suggesting a premium price relative to the company’s earnings growth.

InvestingPro Tips points out that analysts have recently revised their forward earnings upward, which could be a positive signal for potential growth. Moreover, they anticipate sales growth in the current year, which may justify a higher P/E ratio to some extent. These outlooks, along with the fact that Ameresco posted a significant return over the past week with a total price return of 9.24%, provide a mixed view that balances operating performance with market sentiment.

For investors who want a more comprehensive analysis, InvestingPro offers additional advice that can further inform investment decisions. For example, there are 18 additional InvestingPro tips available for Ameresco at https://www.investing.com/pro/AMRC, including information about the company’s debt burden, cash flow and stock price volatility that could be crucial to assessing its financial health and the investment potential of the company.

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