Public Sector Pension investment Board cut its holdings in shares of Acuity Brands Inc (NYSE:AYI) by 51.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,800 shares of the electronics maker’s stock after selling 5,100 shares during the quarter. Public Sector Pension investment Board’s holdings in Acuity Brands were worth $976,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Acuity Brands by 0.3% in the second quarter. Alps Advisors Inc. now owns 2,327 shares of the electronics maker’s stock worth $473,000 after acquiring an additional 6 shares in the last quarter. Cleararc Capital Inc. raised its stake in shares of Acuity Brands by 0.9% in the first quarter. Cleararc Capital Inc. now owns 1,098 shares of the electronics maker’s stock valued at $224,000 after acquiring an additional 10 shares in the last quarter. ZWJ Investment Counsel Inc. raised its stake in shares of Acuity Brands by 0.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 2,463 shares of the electronics maker’s stock valued at $502,000 after acquiring an additional 14 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Acuity Brands by 0.4% in the second quarter. CIBC Asset Management Inc now owns 4,024 shares of the electronics maker’s stock valued at $818,000 after acquiring an additional 15 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Acuity Brands by 3.3% in the first quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock valued at $173,000 after acquiring an additional 27 shares in the last quarter.

In other Acuity Brands news, EVP Mark A. Black sold 5,427 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $205.29, for a total transaction of $1,114,108.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Browning sold 970 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 1,000 shares in the company, valued at approximately $200,050. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

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A number of equities research analysts have issued reports on the company. BidaskClub upgraded Acuity Brands from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. JMP Securities reiterated an “underperform” rating and issued a $183.00 price target (up previously from $170.00) on shares of Acuity Brands in a research note on Friday, June 30th. Deutsche Bank AG lifted 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. Canaccord Genuity reissued a “buy” rating and issued a $215.00 price objective on shares of Acuity Brands in a research report on Friday, June 30th. Finally, Oppenheimer Holdings, Inc. reduced their price objective on shares of Acuity Brands from $265.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Acuity Brands presently has an average rating of “Hold” and a consensus price target of $210.14.

Acuity Brands Inc (NYSE AYI) opened at 170.08 on Tuesday. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 23.72 and a beta of 1.43. The stock’s 50 day moving average is $174.34 and its 200-day moving average is $183.17. Acuity Brands Inc has a 12 month low of $153.28 and a 12 month high of $264.20.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a dividend yield of 0.31%. Acuity Brands’s payout ratio is 7.24%.

Acuity Brands announced that its board has initiated a stock buyback plan on Thursday, June 29th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the electronics maker to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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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Institutional Ownership by Quarter for Acuity Brands (NYSE:AYI)

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