Acuity Brands Inc. (AYI) Stake Cut by Concert Wealth Management Inc.
Concert Wealth Management Inc. reduced its stake in shares of Acuity Brands Inc. (NYSE:AYI) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 3,043 shares of the company’s stock after selling 104 shares during the period. Concert Wealth Management Inc.’s holdings in Acuity Brands were worth $754,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc raised its position in Acuity Brands by 9.9% in the first quarter. Commonwealth Equity Services Inc now owns 2,107 shares of the company’s stock valued at $460,000 after buying an additional 189 shares in the last quarter. Aperio Group LLC raised its position in shares of Acuity Brands by 39.0% in the first quarter. Aperio Group LLC now owns 6,652 shares of the company’s stock valued at $1,451,000 after buying an additional 1,866 shares during the period. Ngam Advisors L.P. raised its position in shares of Acuity Brands by 11.5% in the first quarter. Ngam Advisors L.P. now owns 12,185 shares of the company’s stock valued at $2,658,000 after buying an additional 1,255 shares during the period. BlackRock Inc. raised its position in shares of Acuity Brands by 76.1% in the first quarter. BlackRock Inc. now owns 82,933 shares of the company’s stock valued at $18,091,000 after buying an additional 35,847 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Acuity Brands by 67.3% in the first quarter. BlackRock Group LTD now owns 308,397 shares of the company’s stock valued at $67,273,000 after buying an additional 124,099 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.
Acuity Brands Inc. (NYSE:AYI) traded down 0.73% during trading on Tuesday, hitting $242.02. 375,505 shares of the stock were exchanged. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 36.50 and a beta of 1.46. The firm has a 50-day moving average of $263.64 and a 200-day moving average of $256.37. Acuity Brands Inc. has a 52 week low of $169.42 and a 52 week high of $280.89.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The business earned $925.50 million during the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities research analysts anticipate that Acuity Brands Inc. will post $9.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, October 14th. Acuity Brands’s dividend payout ratio is presently 7.83%.
AYI has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price target on the stock in a research note on Friday, June 24th. Canaccord Genuity restated a “buy” rating on shares of Acuity Brands in a research note on Wednesday, June 29th. Oppenheimer Holdings Inc. restated a “buy” rating and set a $295.00 price target on shares of Acuity Brands in a research note on Thursday, June 30th. Credit Agricole SA restated an “outperform” rating and set a $270.00 price target on shares of Acuity Brands in a research note on Friday, July 1st. Finally, William Blair restated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $275.36.
Acuity Brands Company Profile
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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