First Trust Advisors LP Increases Holdings in Acuity Brands, Inc. (NYSE:AYI)
First Trust Advisors LP boosted its holdings in shares of Acuity Brands, Inc. (NYSE:AYI) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,887 shares of the electronics maker’s stock after acquiring an additional 10,124 shares during the quarter. First Trust Advisors LP owned about 0.23% of Acuity Brands worth $7,957,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its stake in Acuity Brands by 45.9% during the fourth quarter. FMR LLC now owns 1,451,802 shares of the electronics maker’s stock worth $200,349,000 after acquiring an additional 457,001 shares during the last quarter. State Street Corp grew its stake in shares of Acuity Brands by 1.2% in the fourth quarter. State Street Corp now owns 1,370,873 shares of the electronics maker’s stock valued at $189,180,000 after buying an additional 16,826 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Acuity Brands by 12.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,023,116 shares of the electronics maker’s stock valued at $141,190,000 after buying an additional 114,116 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Acuity Brands by 121.3% in the fourth quarter. AQR Capital Management LLC now owns 972,906 shares of the electronics maker’s stock valued at $134,261,000 after buying an additional 533,321 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Acuity Brands by 14.5% in the fourth quarter. FIL Ltd now owns 550,103 shares of the electronics maker’s stock valued at $75,914,000 after buying an additional 69,547 shares in the last quarter. 93.08% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on AYI. Roth Capital dropped their price objective on Acuity Brands from $100.00 to $50.00 in a research note on Monday, March 16th. Wells Fargo & Co dropped their price objective on Acuity Brands from $114.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, April 3rd. TheStreet cut Acuity Brands from a “b-” rating to a “c” rating in a research note on Wednesday, February 12th. ValuEngine raised Acuity Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Credit Suisse Group decreased their target price on Acuity Brands from $113.00 to $111.00 and set an “outperform” rating for the company in a report on Friday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $111.00.
Acuity Brands (NYSE:AYI) last released its earnings results on Thursday, April 2nd. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.06). The company had revenue of $842.20 million during the quarter, compared to analysts’ expectations of $805.18 million. Acuity Brands had a net margin of 8.43% and a return on equity of 17.18%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.99 earnings per share. Equities analysts forecast that Acuity Brands, Inc. will post 6.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 17th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 16th. Acuity Brands’s dividend payout ratio (DPR) is 5.78%.
Acuity Brands Company Profile
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
Read More: What is a balanced fund?
Want to see what other hedge funds are holding AYI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acuity Brands, Inc. (NYSE:AYI).
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.