California Public Employees Retirement System Buys 2,325 Shares of Acuity Brands, Inc. (NYSE:AYI)
California Public Employees Retirement System lifted its stake in shares of Acuity Brands, Inc. (NYSE:AYI) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,564 shares of the electronics maker’s stock after purchasing an additional 2,325 shares during the quarter. California Public Employees Retirement System owned 0.24% of Acuity Brands worth $9,372,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. boosted its holdings in Acuity Brands by 107.5% during the 2nd quarter. Prudential Financial Inc. now owns 701,696 shares of the electronics maker’s stock valued at $67,180,000 after acquiring an additional 363,599 shares during the period. FMR LLC boosted its holdings in Acuity Brands by 14.2% during the 2nd quarter. FMR LLC now owns 2,851,060 shares of the electronics maker’s stock valued at $272,961,000 after acquiring an additional 355,500 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Acuity Brands during the 2nd quarter valued at about $24,332,000. Russell Investments Group Ltd. boosted its holdings in Acuity Brands by 929.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 258,104 shares of the electronics maker’s stock valued at $24,698,000 after acquiring an additional 233,024 shares during the period. Finally, FIL Ltd boosted its holdings in Acuity Brands by 31.3% during the 2nd quarter. FIL Ltd now owns 714,191 shares of the electronics maker’s stock valued at $68,377,000 after acquiring an additional 170,452 shares during the period. Institutional investors and hedge funds own 96.82% of the company’s stock.
Several research firms have weighed in on AYI. Oppenheimer increased their price objective on Acuity Brands from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group began coverage on Acuity Brands in a research report on Tuesday, September 15th. They issued a “sell” rating and a $91.00 target price for the company. Finally, ValuEngine raised Acuity Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 12th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $98.30.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Tuesday, October 13th. The electronics maker reported $2.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.32. Acuity Brands had a return on equity of 14.43% and a net margin of 7.46%. The company had revenue of $891.20 million for the quarter, compared to analysts’ expectations of $825.34 million. During the same period in the previous year, the firm posted $2.75 earnings per share. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, research analysts predict that Acuity Brands, Inc. will post 7.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 19th were given a dividend of $0.13 per share. The ex-dividend date was Friday, October 16th. This represents a $0.52 annualized dividend and a dividend yield of 0.47%. Acuity Brands’s dividend payout ratio (DPR) is presently 6.92%.
Acuity Brands Company 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 control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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