Janus Henderson Group PLC Purchases 5,379 Shares of Acuity Brands Inc (AYI)
Janus Henderson Group PLC raised its position in Acuity Brands Inc (NYSE:AYI) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 199,410 shares of the electronics maker’s stock after acquiring an additional 5,379 shares during the quarter. Janus Henderson Group PLC owned approximately 0.46% of Acuity Brands worth $40,537,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of AYI. BlackRock Inc. lifted its position in shares of Acuity Brands by 2,916.1% during the 1st quarter. BlackRock Inc. now owns 3,776,299 shares of the electronics maker’s stock worth $770,366,000 after buying an additional 3,651,096 shares during the last quarter. Standard Life Investments LTD raised its position in Acuity Brands by 24.9% in the 2nd quarter. Standard Life Investments LTD now owns 1,786,392 shares of the electronics maker’s stock valued at $363,146,000 after purchasing an additional 356,199 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Acuity Brands in the 2nd quarter valued at $40,656,000. Kensico Capital Management Corp purchased a new stake in Acuity Brands in the 1st quarter valued at $38,760,000. Finally, Morgan Stanley raised its position in Acuity Brands by 96.2% in the 1st quarter. Morgan Stanley now owns 353,215 shares of the electronics maker’s stock valued at $72,055,000 after purchasing an additional 173,210 shares during the last quarter.
Shares of Acuity Brands Inc (AYI) opened at 162.53 on Monday. The firm has a market cap of $6.81 billion, a P/E ratio of 21.87 and a beta of 1.43. Acuity Brands Inc has a 52-week low of $153.28 and a 52-week high of $261.43. The company’s 50-day moving average is $171.63 and its 200-day moving average is $180.98.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.25. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The business had revenue of $957.60 million during the quarter, compared to analyst estimates of $975.05 million. During the same period in the previous year, the company earned $2.21 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Acuity Brands Inc will post $9.07 earnings per share for the current fiscal year.
Acuity Brands announced that its board has authorized a stock buyback program on Thursday, June 29th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a yield of 0.32%. Acuity Brands’s dividend payout ratio (DPR) is currently 6.99%.
Several equities analysts have issued reports on the stock. Robert W. Baird reissued an “outperform” rating and issued a $206.00 price objective (down from $210.00) on shares of Acuity Brands in a research note on Monday, June 19th. Roth Capital set a $150.00 price objective on shares of Acuity Brands and gave the company a “sell” rating in a research note on Tuesday, June 27th. Cowen and Company dropped their price objective on shares of Acuity Brands from $230.00 to $226.00 and set an “outperform” rating on the stock in a research note on Friday, June 30th. Canaccord Genuity reissued a “buy” rating and issued a $215.00 price objective on shares of Acuity Brands in a research note on Friday, June 30th. Finally, Deutsche Bank AG upped their price target on shares of Acuity Brands from $215.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $197.17.
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Acuity Brands 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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