Envestnet Asset Management Inc. reduced its position in Acuity Brands Inc (NYSE:AYI) by 25.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,844 shares of the electronics maker’s stock after selling 5,300 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Acuity Brands were worth $2,712,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. boosted its position in shares of Acuity Brands by 2.1% in the second quarter. Eagle Asset Management Inc. now owns 366,528 shares of the electronics maker’s stock valued at $74,507,000 after acquiring an additional 7,657 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Acuity Brands by 14.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,686 shares of the electronics maker’s stock valued at $1,091,000 after acquiring an additional 728 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Acuity Brands by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 51,934 shares of the electronics maker’s stock valued at $10,557,000 after acquiring an additional 1,745 shares during the period. First Trust Advisors LP boosted its position in shares of Acuity Brands by 32.3% in the third quarter. First Trust Advisors LP now owns 41,347 shares of the electronics maker’s stock valued at $7,082,000 after acquiring an additional 10,097 shares during the period. Finally, Peloton Wealth Strategists bought a new position in shares of Acuity Brands in the second quarter valued at approximately $1,235,000.
A number of equities analysts have recently commented on the stock. Roth Capital set a $130.00 price objective on shares of Acuity Brands and gave the company a “sell” rating in a research report on Thursday, October 5th. Wells Fargo & Company lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $225.00 to $185.00 in a research report on Friday, September 15th. BidaskClub lowered shares of Acuity Brands from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Seaport Global Securities reiterated a “buy” rating and set a $200.00 target price (down from $225.00) on shares of Acuity Brands in a research report on Friday, October 6th. Finally, Wolfe Research lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Acuity Brands has a consensus rating of “Hold” and an average price target of $197.17.
In other Acuity Brands news, EVP Mark A. Black sold 7,441 shares of Acuity Brands stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the transaction, the executive vice president now directly owns 30,649 shares of the company’s stock, valued at $4,944,296.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.
Acuity Brands Inc (NYSE:AYI) opened at $167.44 on Thursday. The company has a market cap of $7,344.30, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. Acuity Brands Inc has a one year low of $153.28 and a one year high of $250.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.07.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, topping the consensus estimate of $2.30 by $0.25. The firm had revenue of $957.60 million for the quarter, compared to the consensus estimate of $975.05 million. Acuity Brands had a net margin of 9.18% and a return on equity of 20.47%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. sell-side analysts predict that Acuity Brands Inc will post 8.66 EPS for the current fiscal year.
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About Acuity Brands
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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