Public Employees Retirement System of Ohio trimmed its holdings in shares of Acuity Brands Inc (NYSE:AYI) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,686 shares of the electronics maker’s stock after selling 305 shares during the period. Public Employees Retirement System of Ohio owned 0.11% of Acuity Brands worth $9,897,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Nova Scotia increased its holdings in Acuity Brands by 260.6% during the 2nd quarter. Bank of Nova Scotia now owns 39,940 shares of the electronics maker’s stock valued at $8,118,000 after purchasing an additional 28,863 shares in the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Acuity Brands by 19.6% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,413,636 shares of the electronics maker’s stock valued at $287,363,000 after purchasing an additional 231,406 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Acuity Brands by 661.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock valued at $111,000 after purchasing an additional 476 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Acuity Brands by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,934 shares of the electronics maker’s stock valued at $10,557,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Green Square Capital LLC increased its holdings in Acuity Brands by 17.3% during the 2nd quarter. Green Square Capital LLC now owns 1,928 shares of the electronics maker’s stock valued at $392,000 after purchasing an additional 284 shares in the last quarter.

Acuity Brands Inc (AYI) opened at 162.12 on Friday. Acuity Brands Inc has a 52-week low of $153.28 and a 52-week high of $261.43. The stock has a 50 day moving average price of $170.40 and a 200 day moving average price of $180.11. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 21.82 and a beta of 1.43.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. The company had revenue of $957.60 million during the quarter, compared to the consensus estimate of $975.05 million. Acuity Brands had a net margin of 9.18% and a return on equity of 20.47%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. Analysts anticipate that Acuity Brands Inc will post $9.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a dividend yield of 0.32%. Acuity Brands’s dividend payout ratio (DPR) is presently 6.99%.

Acuity Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 29th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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AYI has been the subject of a number of recent analyst reports. Roth Capital set a $150.00 price target on Acuity Brands and gave the company a “sell” rating in a report on Tuesday, June 27th. Cowen and Company dropped their price target on Acuity Brands from $230.00 to $226.00 and set an “outperform” rating for the company in a report on Friday, June 30th. Canaccord Genuity reaffirmed a “buy” rating and set a $215.00 price target on shares of Acuity Brands in a report on Friday, June 30th. Deutsche Bank AG raised their price target on Acuity Brands from $215.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, JMP Securities reaffirmed an “underperform” rating and set a $183.00 price target (up from $170.00) on shares of Acuity Brands in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $197.17.

Acuity Brands Profile

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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