Seven Bridges Advisors LLC acquired a new stake in Acuity Brands Inc (NYSE:AYI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 578 shares of the electronics maker’s stock, valued at approximately $117,000.

Several other large investors also recently made changes to their positions in the company. Cleararc Capital Inc. increased its stake in shares of Acuity Brands by 0.9% in the first quarter. Cleararc Capital Inc. now owns 1,098 shares of the electronics maker’s stock valued at $224,000 after buying an additional 10 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in shares of Acuity Brands by 0.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 2,463 shares of the electronics maker’s stock valued at $502,000 after buying an additional 14 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Acuity Brands by 0.4% in the second quarter. CIBC Asset Management Inc now owns 4,024 shares of the electronics maker’s stock valued at $818,000 after buying an additional 15 shares during the last quarter. Capital Analysts LLC increased its stake in shares of Acuity Brands by 3.8% in the first quarter. Capital Analysts LLC now owns 680 shares of the electronics maker’s stock valued at $139,000 after buying an additional 25 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Acuity Brands by 2.8% in the first quarter. IFP Advisors Inc now owns 964 shares of the electronics maker’s stock valued at $197,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.

Acuity Brands Inc (AYI) opened at 193.88 on Thursday. The firm’s 50 day moving average price is $197.15 and its 200-day moving average price is $192.98. Acuity Brands Inc has a one year low of $157.33 and a one year high of $280.89. The company has a market capitalization of $8.36 billion, a PE ratio of 27.04 and a beta of 1.41.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Thursday, June 29th. The electronics maker reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. Acuity Brands had a return on equity of 19.89% and a net margin of 9.04%. The firm had revenue of $891.60 million for the quarter, compared to analyst estimates of $878.66 million. During the same period in the prior year, the firm posted $2.06 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts forecast that Acuity Brands Inc will post $8.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, July 14th. Acuity Brands’s dividend payout ratio is 7.24%.

Acuity Brands announced that its board has initiated a stock repurchase program on Thursday, June 29th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the electronics maker to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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Several brokerages have recently issued reports on AYI. Robert W. Baird lowered their price objective on shares of Acuity Brands from $242.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 4th. Wolfe Research began coverage on shares of Acuity Brands in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $237.00 price objective on the stock. Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $196.00 price objective on the stock in a research note on Thursday, June 22nd. BidaskClub downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Canaccord Genuity restated a “buy” rating and issued a $215.00 price objective on shares of Acuity Brands in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $219.00.

In other Acuity Brands news, Director Peter C. Browning sold 970 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $200.05, for a total value of $194,048.50. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $200,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark A. Black sold 5,427 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $205.29, for a total value of $1,114,108.83. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

About Acuity Brands

Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.

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

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