MetLife Investment Management LLC Increases Holdings in Altus Power, Inc. (NYSE:AMPS)

MetLife Investment Management LLC raised its stake in Altus Power, Inc. (NYSE:AMPS) by 45.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,653 shares of the company’s stock after buying an additional 14,962 shares during the quarter. MetLife Investment Management LLC’s holdings in Altus Power were worth $194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE grew its holdings in shares of Altus Power by 11,326.2% in the fourth quarter. US Bancorp DE now owns 9,598 shares of the company’s stock valued at $39,000 after purchasing an additional 9,514 shares during the period. SevenBridge Financial Group LLC acquired a new position in Altus Power in the 4th quarter valued at about $41,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Altus Power in the 4th quarter valued at approximately $41,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Altus Power during the 4th quarter worth approximately $53,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Altus Power during the 4th quarter valued at approximately $112,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Altus Power Stock Down 0.1 %

Altus Power stock opened at $5.00 on Friday. The firm has a market capitalization of $801.30 million, a P/E ratio of 22.70 and a beta of 0.94. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. Altus Power, Inc. has a twelve month low of $2.71 and a twelve month high of $5.50. The stock’s fifty day simple moving average is $4.97 and its 200-day simple moving average is $4.37.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $44.47 million for the quarter, compared to analysts’ expectations of $46.64 million. Altus Power had a return on equity of 4.79% and a net margin of 19.18%. As a group, equities analysts expect that Altus Power, Inc. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on AMPS shares. B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $6.00 to $5.00 in a research report on Friday, February 7th. Roth Capital downgraded Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Monday, February 10th. Seaport Res Ptn cut shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Altus Power in a research report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.13.

Insider Activity at Altus Power

In related news, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the completion of the sale, the chief executive officer now owns 4,023,696 shares in the company, valued at $19,756,347.36. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dustin Weber sold 9,162 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total transaction of $44,985.42. Following the completion of the transaction, the chief financial officer now owns 2,002,611 shares in the company, valued at $9,832,820.01. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,422 shares of company stock valued at $1,093,796 over the last 90 days. 24.30% of the stock is owned by corporate insiders.

Altus Power Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.