Mn Services Vermogensbeheer B.V. boosted its stake in shares of Acuity Brands Inc (NYSE:AYI) by 508.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,158 shares of the electronics maker’s stock after buying an additional 5,982 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Acuity Brands were worth $1,455,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Integrated Investment Consultants LLC increased its stake in Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock valued at $114,000 after buying an additional 205 shares during the last quarter. Van ECK Associates Corp increased its stake in Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock valued at $125,000 after buying an additional 44 shares during the last quarter. Capital Analysts LLC increased its stake in 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. Global X Management Co. LLC increased its stake in Acuity Brands by 204.1% in the first quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock valued at $152,000 after buying an additional 500 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Acuity Brands by 3.3% in the first quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock valued at $173,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.
Acuity Brands Inc (AYI) opened at 206.68 on Tuesday. Acuity Brands Inc has a 12-month low of $157.33 and a 12-month high of $280.89. The company has a 50-day moving average price of $186.57 and a 200-day moving average price of $194.46. The firm has a market cap of $8.91 billion, a PE ratio of 28.83 and a beta of 1.42.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.12. Acuity Brands had a return on equity of 19.89% and a net margin of 9.04%. The company had revenue of $891.60 million for the quarter, compared to analyst estimates of $878.66 million. During the same quarter in the previous year, the company earned $2.06 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Acuity Brands Inc will post $8.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, July 14th. Acuity Brands’s dividend payout ratio is presently 7.24%.
Acuity Brands announced that its Board of Directors has approved a stock buyback program on Thursday, June 29th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several research firms have weighed in on AYI. Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research note on Tuesday, March 28th. Zacks Investment Research upgraded Acuity Brands from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research note on Thursday, June 22nd. Robert W. Baird restated an “outperform” rating and issued a $206.00 target price (down previously from $210.00) on shares of Acuity Brands in a research note on Monday, June 19th. Deutsche Bank AG upped their target price on Acuity Brands from $215.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Finally, BidaskClub upgraded Acuity Brands from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. Acuity Brands has a consensus rating of “Buy” and an average target price of $219.00.
In other Acuity Brands news, Director Peter C. Browning sold 970 shares of Acuity Brands stock in a transaction that occurred 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 sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $200,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark A. Black sold 5,427 shares of Acuity Brands stock in a transaction that occurred 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. 1.40% of the stock is currently owned by insiders.
Acuity Brands Company 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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