Cubist Systematic Strategies LLC lowered its stake in shares of Acuity Brands Inc (NYSE:AYI) by 43.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,657 shares of the electronics maker’s stock after selling 2,012 shares during the period. Cubist Systematic Strategies LLC’s holdings in Acuity Brands were worth $540,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Green Square Capital LLC lifted its stake in Acuity Brands by 17.3% during the 2nd quarter. Green Square Capital LLC now owns 1,928 shares of the electronics maker’s stock valued at $392,000 after acquiring an additional 284 shares during the period. Janus Henderson Group PLC lifted its stake in Acuity Brands by 2.8% during the 2nd quarter. Janus Henderson Group PLC now owns 199,410 shares of the electronics maker’s stock valued at $40,537,000 after acquiring an additional 5,379 shares during the period. Shelton Capital Management bought a new position in Acuity Brands during the 2nd quarter valued at about $233,000. Goldman Sachs Group Inc. lifted its stake in Acuity Brands by 41.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 459,266 shares of the electronics maker’s stock valued at $93,359,000 after acquiring an additional 135,375 shares during the period. Finally, Zurich Insurance Group Ltd FI lifted its stake in Acuity Brands by 83.6% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 6,850 shares of the electronics maker’s stock valued at $1,392,000 after acquiring an additional 3,119 shares during the period.
Several equities analysts have issued reports on the stock. KeyCorp assumed coverage on shares of Acuity Brands in a research note on Friday, October 13th. They set a “sector weight” rating on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $200.00 target price (down previously from $230.00) on shares of Acuity Brands in a research note on Tuesday, October 10th. Wolfe Research cut shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, October 9th. Seaport Global Securities reiterated a “buy” rating and issued a $200.00 price objective (down previously from $225.00) on shares of Acuity Brands in a research note on Friday, October 6th. Finally, Roth Capital set a $130.00 price objective on shares of Acuity Brands and gave the stock a “sell” rating in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $197.17.
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Shares of Acuity Brands Inc (AYI) opened at 160.90 on Friday. Acuity Brands Inc has a 12-month low of $153.28 and a 12-month high of $261.43. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 21.66 and a beta of 1.43. The company has a 50-day moving average of $169.94 and a 200 day moving average of $179.80.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.25. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The firm had revenue of $957.60 million during the quarter, compared to the consensus estimate of $975.05 million. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. Analysts predict that Acuity Brands Inc will post $9.03 earnings per share for the current year.
Acuity Brands declared that its Board of Directors has initiated a share buyback plan on Thursday, June 29th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, October 17th. Acuity Brands’s dividend payout ratio (DPR) is 6.99%.
Acuity Brands Profile
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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