Wells Fargo & Company MN Decreases Holdings in Acuity Brands, Inc. (NYSE:AYI)
Wells Fargo & Company MN lessened its stake in shares of Acuity Brands, Inc. (NYSE:AYI) by 15.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 523,177 shares of the electronics maker’s stock after selling 96,067 shares during the period. Wells Fargo & Company MN owned about 1.31% of Acuity Brands worth $72,151,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Investec Asset Management LTD boosted its position in Acuity Brands by 2,666.8% during the second quarter. Investec Asset Management LTD now owns 648,507 shares of the electronics maker’s stock worth $2,556,000 after purchasing an additional 625,068 shares during the period. Rothschild & Co. Asset Management US Inc. bought a new position in Acuity Brands during the second quarter worth about $23,606,000. BlackRock Inc. boosted its position in Acuity Brands by 1.6% during the first quarter. BlackRock Inc. now owns 4,223,948 shares of the electronics maker’s stock worth $506,914,000 after purchasing an additional 66,251 shares during the period. Riverbridge Partners LLC boosted its position in Acuity Brands by 18.3% during the second quarter. Riverbridge Partners LLC now owns 329,793 shares of the electronics maker’s stock worth $45,482,000 after purchasing an additional 51,077 shares during the period. Finally, Systematic Financial Management LP bought a new position in Acuity Brands during the second quarter worth about $6,586,000. Institutional investors and hedge funds own 92.14% of the company’s stock.
AYI stock opened at $125.22 on Friday. The firm has a 50 day moving average of $129.04 and a 200-day moving average of $132.76. The company has a current ratio of 2.19, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18. Acuity Brands, Inc. has a 12 month low of $103.48 and a 12 month high of $173.01. The firm has a market capitalization of $4.82 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 17th were given a $0.13 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.42%. Acuity Brands’s dividend payout ratio (DPR) is currently 6.33%.
In other news, Director Ray M. Robinson sold 2,363 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.15, for a total value of $307,544.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the stock. Credit Suisse Group cut their target price on shares of Acuity Brands from $155.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Oppenheimer reiterated an “outperform” rating and set a $145.00 target price (down previously from $150.00) on shares of Acuity Brands in a research report on Wednesday, July 3rd. Roth Capital set a $95.00 target price on shares of Acuity Brands and gave the stock a “sell” rating in a research report on Wednesday, July 3rd. ValuEngine lowered shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, CIBC increased their target price on shares of Acuity Brands from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Acuity Brands has a consensus rating of “Hold” and an average target price of $149.90.
About Acuity Brands
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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