Public Employees Retirement Association of Colorado Decreases Stake in Acuity Brands Inc (NYSE:AYI)
Public Employees Retirement Association of Colorado lowered its stake in Acuity Brands Inc (NYSE:AYI) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,454 shares of the electronics maker’s stock after selling 3 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Acuity Brands were worth $1,719,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Acuity Brands by 2,916.1% in the first quarter. BlackRock Inc. now owns 3,776,299 shares of the electronics maker’s stock valued at $770,366,000 after buying an additional 3,651,096 shares in the last quarter. Ameriprise Financial Inc. increased its position in Acuity Brands by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,380,043 shares of the electronics maker’s stock valued at $281,526,000 after buying an additional 365,466 shares in the last quarter. Villere ST Denis J & Co. LLC purchased a new position in Acuity Brands during the first quarter valued at about $71,570,000. TimesSquare Capital Management LLC purchased a new position in Acuity Brands during the first quarter valued at about $65,928,000. Finally, NN Investment Partners Holdings N.V. increased its position in Acuity Brands by 81,594.7% in the first quarter. NN Investment Partners Holdings N.V. now owns 245,084 shares of the electronics maker’s stock valued at $49,996,000 after buying an additional 244,784 shares in the last quarter. 95.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Acuity Brands Inc (NYSE AYI) opened at 185.69 on Friday. Acuity Brands Inc has a 52 week low of $157.33 and a 52 week high of $280.89. The firm has a market cap of $8.00 billion, a P/E ratio of 25.90 and a beta of 1.41. The company’s 50-day moving average price is $197.70 and its 200 day moving average price is $192.77.
Acuity Brands (NYSE:AYI) last released its earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. The business had revenue of $891.60 million for 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%. Acuity Brands’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 earnings per share. On average, equities analysts anticipate that Acuity Brands Inc will post $8.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.52 annualized dividend and a yield of 0.28%. Acuity Brands’s payout ratio is 7.24%.
Acuity Brands declared that its board has initiated a stock repurchase plan on Thursday, June 29th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the electronics maker to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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AYI has been the topic of several research reports. Deutsche Bank AG upped their price objective on Acuity Brands from $215.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Wolfe Research initiated coverage on Acuity Brands in a report on Tuesday, July 11th. They set an “outperform” rating and a $237.00 price objective on the stock. Roth Capital reaffirmed a “sell” rating and set a $150.00 price objective on shares of Acuity Brands in a report on Tuesday, July 4th. Zacks Investment Research raised Acuity Brands from a “hold” rating to a “buy” rating and set a $196.00 price objective on the stock in a report on Thursday, June 22nd. Finally, Cowen and Company reduced their price objective on Acuity Brands from $230.00 to $226.00 and set an “outperform” rating on the stock in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $219.00.
In related 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 value of $194,048.50. Following the transaction, the director now owns 1,000 shares in the company, valued at $200,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 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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