Invesco Ltd. lifted its holdings in Acuity Brands, Inc. (NYSE:AYI) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,581 shares of the electronics maker’s stock after acquiring an additional 4,449 shares during the period. Invesco Ltd. owned 0.07% of Acuity Brands worth $3,804,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. First Trust Advisors LP lifted its stake in Acuity Brands by 18.9% in the first quarter. First Trust Advisors LP now owns 76,290 shares of the electronics maker’s stock worth $9,156,000 after purchasing an additional 12,102 shares during the last quarter. Tyers Asset Management LLC lifted its stake in Acuity Brands by 51.9% in the first quarter. Tyers Asset Management LLC now owns 5,712 shares of the electronics maker’s stock worth $685,000 after purchasing an additional 1,952 shares during the last quarter. Andra AP fonden bought a new stake in Acuity Brands in the first quarter worth about $5,496,000. Muhlenkamp & Co. Inc. bought a new stake in Acuity Brands in the first quarter worth about $5,173,000. Finally, Zions Bancorporation N.A. lifted its stake in Acuity Brands by 5.4% in the second quarter. Zions Bancorporation N.A. now owns 1,609 shares of the electronics maker’s stock worth $222,000 after purchasing an additional 82 shares during the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on AYI shares. Roth Capital set a $95.00 price objective on shares of Acuity Brands and gave the stock a “sell” rating in a research note on Wednesday, July 3rd. Oppenheimer decreased their price objective on shares of Acuity Brands from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Co decreased their price objective on shares of Acuity Brands from $155.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Credit Suisse Group decreased their price target on shares of Acuity Brands from $154.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Finally, CIBC lifted their price target on shares of Acuity Brands from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $143.22.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Wednesday, October 2nd. The electronics maker reported $2.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.12. The company had revenue of $938.10 million for the quarter, compared to analyst estimates of $1.03 billion. Acuity Brands had a net margin of 9.00% and a return on equity of 19.50%. Acuity Brands’s revenue was down 11.6% compared to the same quarter last year. During the same period last year, the company posted $2.68 earnings per share. As a group, research analysts anticipate that Acuity Brands, Inc. will post 9.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.42%. The ex-dividend date is Thursday, October 17th. Acuity Brands’s payout ratio 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.
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