Legal & General Group Plc increased its stake in Acuity Brands Inc. (NYSE:AYI) by 400.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,106 shares of the company’s stock after buying an additional 137,695 shares during the period. Legal & General Group Plc owned approximately 0.40% of Acuity Brands worth $37,543,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Acuity Brands by 7.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 5,456 shares of the company’s stock valued at $1,276,000 after buying an additional 400 shares during the last quarter. Turner Investments L.P. increased its stake in shares of Acuity Brands by 1,100.0% in the fourth quarter. Turner Investments L.P. now owns 12,000 shares of the company’s stock valued at $2,806,000 after buying an additional 11,000 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Acuity Brands by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 139,364 shares of the company’s stock valued at $32,584,000 after buying an additional 895 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Acuity Brands by 3.1% in the fourth quarter. Bank of Montreal Can now owns 96,552 shares of the company’s stock valued at $22,573,000 after buying an additional 2,892 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Acuity Brands by 4.7% in the fourth quarter. Gulf International Bank UK Ltd now owns 12,180 shares of the company’s stock valued at $2,848,000 after buying an additional 550 shares during the last quarter.
Shares of Acuity Brands Inc. (NYSE:AYI) traded up 0.82% during trading on Thursday, hitting $263.65. The stock had a trading volume of 148,785 shares. Acuity Brands Inc. has a 12-month low of $168.33 and a 12-month high of $270.98. The stock has a market capitalization of $11.47 billion and a P/E ratio of 43.07. The stock’s 50-day moving average is $255.46 and its 200-day moving average is $232.91.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 18th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, July 14th.
AYI has been the subject of several recent analyst reports. Canaccord Genuity increased their target price on Acuity Brands to $269.00 in a research note on Thursday, April 7th. Zacks Investment Research upgraded Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 target price for the company in a research note on Friday, June 24th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $295.00 target price (up previously from $245.00) on shares of Acuity Brands in a research note on Thursday, April 7th. Robert W. Baird restated a “buy” rating on shares of Acuity Brands in a research note on Tuesday, April 19th. Finally, William Blair restated an “outperform” rating on shares of Acuity Brands in a research note on Monday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $274.14.
In related news, CFO Richard K. Reece sold 33,430 shares of Acuity Brands stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $269.07, for a total value of $8,995,010.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vernon J. Nagel sold 65,060 shares of Acuity Brands stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here.
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
