California State Teachers Retirement System lowered its holdings in shares of Acuity Brands Inc (NYSE:AYI) by 5.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,156 shares of the electronics maker’s stock after selling 4,413 shares during the period. California State Teachers Retirement System owned about 0.19% of Acuity Brands worth $16,700,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of AYI. Principal Financial Group Inc. raised its holdings in shares of Acuity Brands by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 68,003 shares of the electronics maker’s stock worth $13,873,000 after buying an additional 582 shares in the last quarter. Wellington Management Group LLP increased its holdings in Acuity Brands by 377.5% in the 1st quarter. Wellington Management Group LLP now owns 13,432 shares of the electronics maker’s stock worth $2,740,000 after purchasing an additional 10,619 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Acuity Brands by 0.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 24,120 shares of the electronics maker’s stock worth $4,920,000 after purchasing an additional 218 shares in the last quarter. Global X Management Co. LLC increased its holdings in Acuity Brands by 204.1% in the 1st quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock worth $152,000 after purchasing an additional 500 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Acuity Brands in the 1st quarter worth about $3,287,000.
Acuity Brands Inc (AYI) opened at 162.17 on Thursday. The firm has a 50-day moving average price of $170.78 and a 200 day moving average price of $180.25. Acuity Brands Inc has a one year low of $153.28 and a one year high of $261.43. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 21.83 and a beta of 1.43.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings data on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.25. The business had revenue of $957.60 million for the quarter, compared to analysts’ expectations of $975.05 million. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 EPS. Equities analysts expect that Acuity Brands Inc will post $9.08 earnings per share for the current fiscal year.
Acuity Brands announced that its Board of Directors has approved a share repurchase program on Thursday, June 29th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.32%. Acuity Brands’s dividend payout ratio is currently 6.99%.
A number of equities analysts have issued reports on the company. JMP Securities raised Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 target price for the company in a report on Tuesday, October 3rd. KeyCorp assumed coverage on Acuity Brands in a report on Friday, October 13th. They issued a “sector weight” rating for the company. BidaskClub raised Acuity Brands from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Seaport Global Securities reaffirmed a “buy” rating and issued a $200.00 target price (down previously from $225.00) on shares of Acuity Brands in a report on Friday, October 6th. Finally, Wolfe Research cut Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Acuity Brands presently has an average rating of “Hold” and a consensus price target of $197.17.
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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