Acuity Brands Inc. (AYI) Shares Sold by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA decreased its stake in shares of Acuity Brands Inc. (NYSE:AYI) by 14.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,267 shares of the company’s stock after selling 3,891 shares during the period. Emerald Advisers Inc. PA’s holdings in Acuity Brands were worth $5,769,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Redwood Investments LLC boosted its stake in shares of Acuity Brands by 40,862.3% in the second quarter. Redwood Investments LLC now owns 68,407 shares of the company’s stock valued at $16,962,000 after buying an additional 68,240 shares during the last quarter. ING Groep NV acquired a new stake in shares of Acuity Brands during the second quarter valued at approximately $389,000. Capital Fund Management S.A. boosted its stake in shares of Acuity Brands by 247.8% in the second quarter. Capital Fund Management S.A. now owns 63,423 shares of the company’s stock valued at $15,726,000 after buying an additional 45,185 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Acuity Brands by 3.6% in the second quarter. American Century Companies Inc. now owns 686,571 shares of the company’s stock valued at $170,242,000 after buying an additional 23,689 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Acuity Brands during the second quarter valued at approximately $395,000. Institutional investors and hedge funds own 93.26% of the company’s stock.
Acuity Brands Inc. (NYSE:AYI) traded down 1.32% during midday trading on Friday, hitting $240.74. 708,371 shares of the stock were exchanged. The firm has a 50-day moving average price of $265.67 and a 200-day moving average price of $255.49. The stock has a market cap of $10.47 billion, a P/E ratio of 39.33 and a beta of 1.46. Acuity Brands Inc. has a one year low of $169.42 and a one year high of $280.89.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.18. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The company had revenue of $925.50 million for the quarter. During the same period in the previous year, the company posted $1.63 earnings per share. Acuity Brands’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities research analysts anticipate that Acuity Brands Inc. will post $9.70 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, October 14th. Acuity Brands’s dividend payout ratio is presently 7.83%.
Several analysts have commented on the stock. Robert W. Baird set a $272.00 price objective on shares of Acuity Brands and gave the company a “buy” rating in a research note on Thursday. Cowen and Company set a $285.00 target price on shares of Acuity Brands and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and decreased their target price for the company from $305.00 to $286.00 in a research note on Thursday. DA Davidson reiterated a “hold” rating and issued a $255.00 target price on shares of Acuity Brands in a research note on Tuesday. Finally, Roth Capital set a $275.00 target price on shares of Acuity Brands and gave the company a “hold” rating in a research note on Saturday, October 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $277.64.
In related news, CFO Richard K. Reece sold 33,430 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $269.07, for a total transaction of $8,995,010.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vernon J. Nagel sold 65,060 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
About Acuity Brands
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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