Truist Financial Corp Sells 133 Shares of Acuity Brands, Inc. (NYSE:AYI)

Truist Financial Corp decreased its holdings in shares of Acuity Brands, Inc. (NYSE:AYI – Get Rating) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,048 shares of the electronics maker’s stock after selling 133 shares during the quarter. Truist Financial Corp’s holdings in Acuity Brands were worth $480,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AYI. National Bank of Canada FI purchased a new stake in Acuity Brands during the third quarter valued at $26,000. Ronald Blue Trust Inc. raised its stake in Acuity Brands by 60.2% during the third quarter. Ronald Blue Trust Inc. now owns 165 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in Acuity Brands during the third quarter valued at $55,000. Janiczek Wealth Management LLC raised its stake in Acuity Brands by 23.6% during the third quarter. Janiczek Wealth Management LLC now owns 346 shares of the electronics maker’s stock valued at $56,000 after purchasing an additional 66 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Acuity Brands during the third quarter valued at $60,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Insiders Place Their Bets

In other Acuity Brands news, SVP Barry R. Goldman sold 2,211 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $174.31, for a total transaction of $385,399.41. Following the transaction, the senior vice president now directly owns 5,791 shares in the company, valued at approximately $1,009,429.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Acuity Brands news, CFO Karen J. Holcom sold 4,238 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $174.51, for a total transaction of $739,573.38. Following the transaction, the chief financial officer now directly owns 16,856 shares in the company, valued at approximately $2,941,540.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Barry R. Goldman sold 2,211 shares of the stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $174.31, for a total transaction of $385,399.41. Following the transaction, the senior vice president now owns 5,791 shares in the company, valued at $1,009,429.21. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AYI. UBS Group upped their price target on shares of Acuity Brands from $170.00 to $180.00 in a research note on Tuesday, January 10th. Cowen reduced their target price on shares of Acuity Brands from $225.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 5th. Wells Fargo & Company increased their target price on shares of Acuity Brands from $188.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, January 5th. StockNews.com raised shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 17th. Finally, Robert W. Baird downgraded shares of Acuity Brands from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $200.00 to $190.00 in a research note on Friday, December 16th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Acuity Brands presently has an average rating of “Moderate Buy” and an average target price of $200.00.

Acuity Brands Trading Up 0.4 %

AYI stock opened at $176.56 on Tuesday. The company has a market capitalization of $5.66 billion, a PE ratio of 16.09, a P/E/G ratio of 1.42 and a beta of 1.54. Acuity Brands, Inc. has a 12 month low of $142.71 and a 12 month high of $200.34. The firm’s 50-day moving average is $176.91 and its 200 day moving average is $173.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.09 and a quick ratio of 1.39.

Acuity Brands (NYSE:AYI – Get Rating) last posted its quarterly earnings results on Monday, January 9th. The electronics maker reported $3.29 EPS for the quarter, topping the consensus estimate of $3.02 by $0.27. Acuity Brands had a net margin of 9.11% and a return on equity of 21.40%. The company had revenue of $997.90 million for the quarter, compared to the consensus estimate of $984.46 million. During the same quarter last year, the firm posted $2.85 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Acuity Brands, Inc. will post 12.38 EPS for the current year.

About Acuity Brands

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Acuity Brands, Inc operates as an industrial technology company, which engages in the provision of lighting and building management solutions and services. It operates through the Acuity Brands Lighting and Lighting Controls and Intelligent Spaces Group segments. The company was founded in 2001 and is headquartered in Atlanta, GA.