World Asset Management Inc boosted its position in shares of Acuity Brands, Inc. (NYSE:AYI) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,426 shares of the electronics maker’s stock after purchasing an additional 99 shares during the period. World Asset Management Inc’s holdings in Acuity Brands were worth $335,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Osborn Williams & Donohoe LLC bought a new position in Acuity Brands in the 1st quarter valued at approximately $28,000. Kwmg LLC purchased a new position in Acuity Brands during the 1st quarter valued at about $44,000. Quadrant Capital Group LLC grew its holdings in Acuity Brands by 784.9% during the 1st quarter. Quadrant Capital Group LLC now owns 469 shares of the electronics maker’s stock valued at $53,000 after buying an additional 416 shares in the last quarter. NEXT Financial Group Inc grew its holdings in Acuity Brands by 45.6% during the 2nd quarter. NEXT Financial Group Inc now owns 667 shares of the electronics maker’s stock valued at $92,000 after buying an additional 209 shares in the last quarter. Finally, Pearl River Capital LLC grew its holdings in Acuity Brands by 3,226.7% during the 1st quarter. Pearl River Capital LLC now owns 998 shares of the electronics maker’s stock valued at $120,000 after buying an additional 968 shares in the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ray M. Robinson sold 2,363 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.15, for a total transaction of $307,544.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.
AYI stock traded down $2.75 during mid-day trading on Monday, reaching $128.01. 4,941 shares of the company traded hands, compared to its average volume of 391,190. The company has a quick ratio of 1.57, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $5.22 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.37 and a beta of 1.60. Acuity Brands, Inc. has a 52-week low of $103.48 and a 52-week high of $173.01. The company has a fifty day moving average price of $133.29.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Tuesday, July 2nd. The electronics maker reported $2.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.16. Acuity Brands had a return on equity of 19.90% and a net margin of 9.02%. The company had revenue of $947.60 million during the quarter, compared to analyst estimates of $969.48 million. During the same quarter in the previous year, the firm earned $2.37 earnings per share. Acuity Brands’s revenue was up .4% on a year-over-year basis. Analysts expect that Acuity Brands, Inc. will post 9.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 17th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Tuesday, July 16th. Acuity Brands’s payout ratio is 6.33%.
AYI has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine lowered Acuity Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Credit Suisse Group reduced their target price on Acuity Brands from $155.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Roth Capital set a $95.00 target price on Acuity Brands and gave the company a “sell” rating in a report on Wednesday, July 3rd. Finally, CIBC lifted their target price on Acuity Brands from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $149.90.
Acuity Brands Company 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 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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