Deutsche Bank AG lessened its holdings in Acuity Brands, Inc. (NYSE:AYI) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 264,812 shares of the electronics maker’s stock after selling 65,726 shares during the quarter. Deutsche Bank AG owned 0.63% of Acuity Brands worth $46,600,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Wells Fargo & Company MN increased its position in shares of Acuity Brands by 645.9% in the fourth quarter. Wells Fargo & Company MN now owns 571,392 shares of the electronics maker’s stock valued at $100,564,000 after acquiring an additional 494,788 shares during the period. Generation Investment Management LLP increased its position in shares of Acuity Brands by 12.4% in the fourth quarter. Generation Investment Management LLP now owns 3,767,048 shares of the electronics maker’s stock valued at $663,000,000 after acquiring an additional 415,908 shares during the period. Carillon Tower Advisers Inc. purchased a new position in shares of Acuity Brands in the fourth quarter valued at about $68,182,000. Atlanta Capital Management Co. L L C increased its position in shares of Acuity Brands by 24.1% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,755,704 shares of the electronics maker’s stock valued at $309,004,000 after acquiring an additional 341,244 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in shares of Acuity Brands by 34.3% in the third quarter. Alyeska Investment Group L.P. now owns 886,653 shares of the electronics maker’s stock valued at $151,866,000 after acquiring an additional 226,605 shares during the period.
Shares of NYSE AYI traded down $1.38 during midday trading on Friday, hitting $131.83. 988,275 shares of the company traded hands, compared to its average volume of 789,853. Acuity Brands, Inc. has a 12-month low of $119.02 and a 12-month high of $208.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.15 and a quick ratio of 1.65. The stock has a market capitalization of $5,615.91, a P/E ratio of 16.56, a P/E/G ratio of 1.38 and a beta of 1.33.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings data on Tuesday, January 9th. The electronics maker reported $1.81 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.16). Acuity Brands had a return on equity of 20.56% and a net margin of 9.68%. The business had revenue of $842.80 million for the quarter, compared to the consensus estimate of $883.97 million. research analysts anticipate that Acuity Brands, Inc. will post 8.79 earnings per share for the current year.
Acuity Brands announced that its board has approved a stock repurchase program on Wednesday, April 4th that allows the company to buyback 6,000,000 outstanding shares. This buyback authorization allows the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, April 16th. Acuity Brands’s payout ratio is currently 6.53%.
A number of equities analysts have issued reports on the stock. Williams Capital decreased their price objective on shares of Acuity Brands from $175.00 to $151.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo decreased their price objective on shares of Acuity Brands from $157.00 to $140.00 and set a “market perform” rating on the stock in a research report on Thursday. JMP Securities upgraded shares of Acuity Brands from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Thursday. Oppenheimer decreased their price objective on shares of Acuity Brands from $175.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Zacks Investment Research cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $178.08.
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Acuity Brands Profile
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 controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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