CIBC Bancorp USA Inc. Takes Position in Acuity, Inc. $AYI

CIBC Bancorp USA Inc. bought a new stake in Acuity, Inc. (NYSE:AYI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 158,291 shares of the electronics maker’s stock, valued at approximately $54,514,000.

Other large investors have also recently added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new stake in Acuity in the 3rd quarter worth about $26,000. Root Financial Partners LLC purchased a new position in shares of Acuity during the 3rd quarter worth about $33,000. Richardson Financial Services Inc. lifted its holdings in shares of Acuity by 122.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 100 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 55 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Acuity in the second quarter worth approximately $36,000. Finally, True Wealth Design LLC grew its holdings in Acuity by 5,200.0% in the third quarter. True Wealth Design LLC now owns 106 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 104 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Acuity Stock Performance

Shares of AYI stock opened at $267.55 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.20 billion, a PE ratio of 20.58, a P/E/G ratio of 1.43 and a beta of 1.50. The company’s fifty day simple moving average is $305.88 and its 200-day simple moving average is $338.54. Acuity, Inc. has a 52 week low of $216.81 and a 52 week high of $380.17.

Acuity (NYSE:AYI) last announced its quarterly earnings results on Thursday, January 8th. The electronics maker reported $4.69 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.24. Acuity had a net margin of 9.04% and a return on equity of 20.97%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned $3.97 EPS. The firm’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts anticipate that Acuity, Inc. will post 15.86 EPS for the current year.

Acuity Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from Acuity’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Acuity’s dividend payout ratio (DPR) is currently 6.15%.

Insider Activity

In other news, CFO Karen J. Holcom sold 4,974 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $309.23, for a total value of $1,538,110.02. Following the completion of the sale, the chief financial officer owned 21,523 shares in the company, valued at approximately $6,655,557.29. This trade represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird set a $375.00 price target on shares of Acuity in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Acuity in a report on Monday, December 29th. Wells Fargo & Company reduced their target price on Acuity from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Zacks Research downgraded Acuity from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Morgan Stanley reduced their price objective on Acuity from $425.00 to $410.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $389.33.

About Acuity

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.