FDx Advisors Inc. lessened its holdings in Acuity Brands (NYSE:AYI) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,376 shares of the electronics maker’s stock after selling 1,071 shares during the period. FDx Advisors Inc.’s holdings in Acuity Brands were worth $331,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. ING Groep NV raised its position in shares of Acuity Brands by 27.7% in the fourth quarter. ING Groep NV now owns 1,708 shares of the electronics maker’s stock valued at $301,000 after buying an additional 370 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in Acuity Brands by 3.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 10,818 shares of the electronics maker’s stock worth $1,904,000 after purchasing an additional 376 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in Acuity Brands by 15.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the electronics maker’s stock worth $606,000 after purchasing an additional 448 shares during the last quarter. Amalgamated Bank increased its position in Acuity Brands by 9.7% during the fourth quarter. Amalgamated Bank now owns 5,441 shares of the electronics maker’s stock worth $958,000 after purchasing an additional 480 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Acuity Brands by 9.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,800 shares of the electronics maker’s stock worth $1,021,000 after purchasing an additional 500 shares during the last quarter.
Several equities analysts recently commented on the stock. Oppenheimer dropped their price target on shares of Acuity Brands from $175.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, April 5th. Wells Fargo dropped their price target on shares of Acuity Brands from $175.00 to $157.00 and set a “market perform” rating for the company in a research report on Wednesday, March 28th. William Blair lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 22nd. Zacks Investment Research lowered shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. Finally, Vertical Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research report on Monday, April 16th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Acuity Brands presently has a consensus rating of “Hold” and an average target price of $177.82.
Acuity Brands opened at $118.74 on Friday, Marketbeat Ratings reports. Acuity Brands has a 52-week low of $116.94 and a 52-week high of $117.96. The firm has a market capitalization of $4.93 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.34. The company has a quick ratio of 1.51, a current ratio of 2.15 and a debt-to-equity ratio of 0.22.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Wednesday, April 4th. The electronics maker reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.06). Acuity Brands had a return on equity of 20.56% and a net margin of 9.68%. The business had revenue of $832.10 million during the quarter, compared to analyst estimates of $799.33 million. During the same period in the previous year, the company earned $1.77 EPS. Acuity Brands’s revenue was up 3.4% on a year-over-year basis. research analysts anticipate that Acuity Brands will post 7.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, April 16th. Acuity Brands’s payout ratio is currently 6.53%.
Acuity Brands declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 4th that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other Acuity Brands news, Director W. Patrick Battle acquired 1,330 shares of the company’s stock in a transaction dated Thursday, May 3rd. The stock was bought at an average price of $112.91 per share, with a total value of $150,170.30. Following the completion of the transaction, the director now directly owns 2,809 shares of the company’s stock, valued at $317,164.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George Douglas Dillard, Jr. acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was acquired at an average cost of $112.76 per share, with a total value of $563,800.00. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.
Acuity Brands Profile
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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