Teachers Advisors LLC reduced its stake in shares of Acuity Brands Inc (NYSE:AYI) by 35.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,756 shares of the electronics maker’s stock after selling 28,880 shares during the period. Teachers Advisors LLC’s holdings in Acuity Brands were worth $10,762,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Integrated Investment Consultants LLC raised its position in Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock worth $114,000 after buying an additional 205 shares during the last quarter. Van ECK Associates Corp raised its position in Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock worth $125,000 after buying an additional 44 shares during the last quarter. Capital Analysts LLC raised its position in Acuity Brands by 3.8% in the first quarter. Capital Analysts LLC now owns 680 shares of the electronics maker’s stock worth $139,000 after buying an additional 25 shares during the last quarter. Pacer Advisors Inc. raised its position in Acuity Brands by 3.3% in the first quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock worth $173,000 after buying an additional 27 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Acuity Brands by 2.8% in the first quarter. IFP Advisors Inc now owns 964 shares of the electronics maker’s stock worth $197,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.
Acuity Brands Inc (NYSE AYI) traded down 1.56% on Friday, reaching $178.33. 426,940 shares of the company’s stock traded hands. The stock has a 50-day moving average of $197.82 and a 200 day moving average of $191.84. Acuity Brands Inc has a 52 week low of $157.33 and a 52 week high of $280.89. The firm has a market capitalization of $7.69 billion, a P/E ratio of 24.88 and a beta of 1.41.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The business had revenue of $891.60 million during the quarter, compared to analyst estimates of $878.66 million. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 earnings per share. On average, equities analysts expect that Acuity Brands Inc will post $8.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were paid a $0.13 dividend. The ex-dividend date was Friday, July 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.29%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.24%.
Acuity Brands announced that its board has authorized a stock repurchase program on Thursday, June 29th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $201.00 price target on the stock in a research report on Thursday, June 15th. Canaccord Genuity restated a “buy” rating and set a $215.00 price target on shares of Acuity Brands in a research report on Friday, June 30th. Roth Capital set a $150.00 price target on shares of Acuity Brands and gave the stock a “sell” rating in a research report on Tuesday, June 27th. Finally, Oppenheimer Holdings, Inc. lowered their price target on shares of Acuity Brands from $265.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $219.00.
In other news, Director Peter C. Browning sold 970 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $200.05, for a total transaction of $194,048.50. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $200,050. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark A. Black sold 5,427 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
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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