Kestra Private Wealth Services LLC raised its holdings in Acuity Brands, Inc. (NYSE:AYI – Get Rating) by 18.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,542 shares of the electronics maker’s stock after buying an additional 387 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Acuity Brands were worth $481,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Acuity Brands by 19.3% during the first quarter. Wellington Management Group LLP now owns 1,208,990 shares of the electronics maker’s stock worth $228,862,000 after acquiring an additional 195,515 shares during the period. Millennium Management LLC raised its position in shares of Acuity Brands by 213.8% during the fourth quarter. Millennium Management LLC now owns 205,346 shares of the electronics maker’s stock valued at $43,476,000 after buying an additional 139,898 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Acuity Brands by 114.8% in the fourth quarter. Nuveen Asset Management LLC now owns 197,169 shares of the electronics maker’s stock valued at $41,745,000 after buying an additional 105,372 shares during the period. Panagora Asset Management Inc. grew its position in Acuity Brands by 1,252.4% during the first quarter. Panagora Asset Management Inc. now owns 84,468 shares of the electronics maker’s stock worth $15,990,000 after buying an additional 78,222 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Acuity Brands by 19.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 465,933 shares of the electronics maker’s stock valued at $88,201,000 after acquiring an additional 75,468 shares during the period. 94.70% of the stock is owned by institutional investors.
Insider Activity at Acuity Brands
In other news, Director Laura O’shaughnessy acquired 575 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was purchased at an average cost of $174.54 per share, with a total value of $100,360.50. Following the acquisition, the director now owns 1,479 shares of the company’s stock, valued at approximately $258,144.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Karen J. Holcom sold 5,438 shares of the business’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $154.20, for a total transaction of $838,539.60. Following the completion of the transaction, the chief financial officer now directly owns 17,138 shares in the company, valued at approximately $2,642,679.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Laura O’shaughnessy purchased 575 shares of the stock in a transaction dated Thursday, July 28th. The stock was bought at an average cost of $174.54 per share, with a total value of $100,360.50. Following the completion of the purchase, the director now 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 owned by company insiders.
Acuity Brands Stock Performance
Acuity Brands (NYSE:AYI – Get Rating) last announced its earnings results on Thursday, June 30th. The electronics maker reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.50. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $988.15 million. Acuity Brands had a net margin of 9.43% and a return on equity of 19.77%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.62 earnings per share. On average, equities research analysts predict that Acuity Brands, Inc. will post 11.47 EPS for the current fiscal year.
Acuity Brands Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 15th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, July 14th. Acuity Brands’s dividend payout ratio (DPR) is presently 5.01%.
Analyst Ratings Changes
Several brokerages have recently weighed in on AYI. StockNews.com raised Acuity Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 9th. Cowen reduced their price objective on shares of Acuity Brands to $225.00 in a report on Monday, July 4th. William Blair lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 23rd. Credit Suisse Group decreased their price objective on Acuity Brands from $241.00 to $211.00 and set an “outperform” rating on the stock in a report on Monday, June 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $210.00 target price on shares of Acuity Brands in a report on Tuesday, August 30th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.57.
Acuity Brands Company Profile
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.
- Get a free copy of the StockNews.com research report on Acuity Brands (AYI)
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