Sei Investments Co. decreased its stake in shares of Acuity Brands Inc (NYSE:AYI) by 19.2% during the second quarter, Holdings Channel reports. The firm owned 28,620 shares of the electronics maker’s stock after selling 6,803 shares during the period. Sei Investments Co.’s holdings in Acuity Brands were worth $5,818,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Acuity Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 4,182,010 shares of the electronics maker’s stock valued at $853,130,000 after buying an additional 141,804 shares during the period. BlackRock Inc. raised 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 during the period. State Street Corp raised its position in Acuity Brands by 5.2% in the first quarter. State Street Corp now owns 2,024,076 shares of the electronics maker’s stock valued at $412,907,000 after buying an additional 100,424 shares during the period. Ameriprise Financial Inc. raised 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 during the period. Finally, Congress Asset Management Co. MA raised its position in Acuity Brands by 13.5% in the second quarter. Congress Asset Management Co. MA now owns 529,335 shares of the electronics maker’s stock valued at $107,603,000 after buying an additional 62,948 shares during the period. Institutional investors and hedge funds own 95.15% of the company’s stock.

Shares of Acuity Brands Inc (NYSE AYI) opened at 182.14 on Wednesday. The stock has a 50 day moving average of $198.13 and a 200 day moving average of $192.17. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 25.41 and a beta of 1.41. Acuity Brands Inc has a 12-month low of $157.33 and a 12-month high of $280.89.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.12. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The firm had revenue of $891.60 million for the quarter, compared to analysts’ expectations of $878.66 million. During the same quarter in the previous year, the company posted $2.06 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Acuity Brands Inc will post $8.31 earnings per share for the current fiscal year.

Acuity Brands declared that its board has approved a share buyback plan on Thursday, June 29th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.29%. Acuity Brands’s payout ratio is currently 7.24%.

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Several equities analysts have commented on AYI shares. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Wells Fargo & Company reiterated an “outperform” rating and set a $200.00 price objective (up previously from $196.00) on shares of Acuity Brands in a research report on Tuesday, June 6th. Wolfe Research started coverage on shares of Acuity Brands in a research report on Tuesday, July 11th. They set an “outperform” rating and a $237.00 price objective for the company. Oppenheimer Holdings, Inc. lowered their price objective on shares of Acuity Brands from $265.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, July 4th. Finally, Robert W. Baird lowered their price objective on shares of Acuity Brands from $242.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Acuity Brands currently has a consensus rating of “Hold” and a consensus target price of $219.00.

In other Acuity Brands news, Director Peter C. Browning sold 970 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $200,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark A. Black sold 5,427 shares of the company’s stock in a transaction dated 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. Corporate insiders own 1.40% of the company’s stock.

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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