Acuity Brands, Inc. (NYSE:AYI) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in shares of Acuity Brands, Inc. (NYSE:AYIGet Rating) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,458 shares of the electronics maker’s stock after selling 153 shares during the quarter. Arizona State Retirement System’s holdings in Acuity Brands were worth $1,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in Acuity Brands by 74.1% during the fourth quarter. Russell Investments Group Ltd. now owns 20,344 shares of the electronics maker’s stock worth $4,302,000 after purchasing an additional 8,656 shares during the period. Janney Montgomery Scott LLC raised its stake in Acuity Brands by 75.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,455 shares of the electronics maker’s stock worth $520,000 after purchasing an additional 1,059 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Acuity Brands during the fourth quarter worth about $16,886,000. Illinois Municipal Retirement Fund raised its stake in Acuity Brands by 26.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 13,974 shares of the electronics maker’s stock worth $2,959,000 after purchasing an additional 2,963 shares during the period. Finally, Yousif Capital Management LLC purchased a new position in Acuity Brands during the fourth quarter worth about $3,999,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Acuity Brands Price Performance

Shares of AYI opened at $182.40 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.26. Acuity Brands, Inc. has a fifty-two week low of $142.71 and a fifty-two week high of $224.59. The company has a market cap of $5.97 billion, a P/E ratio of 17.57, a PEG ratio of 1.51 and a beta of 1.55. The firm’s 50 day moving average price is $166.60 and its 200 day moving average price is $176.80.

Acuity Brands (NYSE:AYIGet Rating) last posted its quarterly earnings results on Thursday, June 30th. The electronics maker reported $3.30 EPS for the quarter, topping the consensus estimate of $2.80 by $0.50. Acuity Brands had a net margin of 9.43% and a return on equity of 19.77%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $988.15 million. During the same quarter in the previous year, the business posted $2.62 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. On average, research analysts forecast that Acuity Brands, Inc. will post 11.52 earnings per share for the current fiscal year.

Acuity Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Thursday, July 14th. Acuity Brands’s dividend payout ratio (DPR) is presently 5.01%.

Wall Street Analyst Weigh In

AYI has been the topic of a number of analyst reports. Robert W. Baird lifted their target price on shares of Acuity Brands from $188.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, July 1st. Wells Fargo & Company reduced their price target on shares of Acuity Brands from $200.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 29th. StockNews.com raised shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 9th. Cowen reduced their price target on shares of Acuity Brands to $225.00 in a research note on Monday, July 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $210.00 price target on shares of Acuity Brands in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.57.

Insiders Place Their Bets

In other news, Director Laura O’shaughnessy purchased 575 shares of the stock in a transaction on Thursday, July 28th. The stock was bought at an average price of $174.54 per share, for a total transaction of $100,360.50. Following the acquisition, the director now directly owns 1,479 shares of the company’s stock, valued at approximately $258,144.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Karen J. Holcom sold 5,438 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $154.20, for a total value of $838,539.60. Following the transaction, the chief financial officer now directly owns 17,138 shares of the company’s stock, valued at approximately $2,642,679.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Laura O’shaughnessy bought 575 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was bought at an average cost of $174.54 per share, for a total transaction of $100,360.50. Following the completion of the transaction, the director now directly owns 1,479 shares in the company, valued at $258,144.66. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Acuity Brands Company Profile

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Acuity Brands, Inc provides lighting and building management solutions in North America and internationally. The company operates through two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Sunoptics, eldoLED, nLight, Sensor Switch, IOTA, A-Light, Cyclone, Eureka, Lumniaire LED, Luminis, Dark to Light, and RELOC Wiring Solutions brands.

See Also

Institutional Ownership by Quarter for Acuity Brands (NYSE:AYI)

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