Atria Investments LLC reduced its position in shares of Acuity Brands Inc (NYSE:AYI) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,275 shares of the electronics maker’s stock after selling 21 shares during the period. Atria Investments LLC’s holdings in Acuity Brands were worth $462,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in Acuity Brands during the first quarter valued at about $3,203,000. Congress Asset Management Co. MA increased its stake in Acuity Brands by 18.5% in the first quarter. Congress Asset Management Co. MA now owns 466,387 shares of the electronics maker’s stock valued at $95,143,000 after buying an additional 72,735 shares during the period. 1st Global Advisors Inc. increased its stake in Acuity Brands by 118.4% in the first quarter. 1st Global Advisors Inc. now owns 9,372 shares of the electronics maker’s stock valued at $1,912,000 after buying an additional 5,081 shares during the period. Nippon Life Global Investors Americas Inc. increased its stake in Acuity Brands by 77.1% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 74,330 shares of the electronics maker’s stock valued at $15,163,000 after buying an additional 32,370 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its stake in Acuity Brands by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 38,023 shares of the electronics maker’s stock valued at $7,757,000 after buying an additional 996 shares during the period. Hedge funds and other institutional investors own 95.15% of the company’s stock.
Acuity Brands Inc (NYSE:AYI) traded down 0.63% during trading on Tuesday, reaching $196.52. The company’s stock had a trading volume of 340,239 shares. The stock has a market cap of $8.47 billion, a P/E ratio of 27.41 and a beta of 1.41. The firm’s 50-day moving average is $195.51 and its 200-day moving average is $193.34. Acuity Brands Inc has a 52-week low of $157.33 and a 52-week high of $280.89.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. Acuity Brands had a return on equity of 19.89% and a net margin of 9.04%. The business had revenue of $891.60 million during the quarter, compared to analysts’ expectations of $878.66 million. During the same quarter last year, the company posted $2.06 earnings per share. Acuity Brands’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Acuity Brands Inc will post $8.31 EPS for the current year.
Acuity Brands announced that its board has authorized a share repurchase plan on Thursday, June 29th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.52 annualized dividend and a yield of 0.26%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.24%.
Several analysts have recently issued reports on the company. BidaskClub downgraded Acuity Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Wolfe Research assumed coverage on Acuity Brands in a research note on Tuesday, July 11th. They set an “outperform” rating and a $237.00 price target for the company. Zacks Investment Research downgraded Acuity Brands from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Roth Capital reiterated a “sell” rating and set a $150.00 price target on shares of Acuity Brands in a research note on Tuesday, July 4th. Finally, Robert W. Baird cut their price objective on Acuity Brands from $242.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $219.00.
In other Acuity Brands news, EVP Mark A. Black sold 5,427 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $205.29, for a total transaction of $1,114,108.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Browning sold 970 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $200.05, for a total transaction of $194,048.50. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at $200,050. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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