Essex Investment Management Co. LLC raised its position in Acuity Brands Inc. (NYSE:AYI) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,100 shares of the company’s stock after buying an additional 19 shares during the period. Essex Investment Management Co. LLC’s holdings in Acuity Brands were worth $3,744,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Acuity Brands during the second quarter worth about $153,000. Genesee Valley Trust Co. purchased a new stake in Acuity Brands during the second quarter worth $207,000. Cue Financial Group Inc. purchased a new stake in Acuity Brands during the second quarter worth $253,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Acuity Brands during the first quarter worth $273,000. Finally, Raymond James Trust N.A. increased its stake in Acuity Brands by 22.5% in the first quarter. Raymond James Trust N.A. now owns 1,492 shares of the company’s stock worth $325,000 after buying an additional 274 shares during the period. 93.26% of the stock is owned by institutional investors and hedge funds.
Acuity Brands Inc. (NYSE:AYI) traded up 0.29% during mid-day trading on Wednesday, hitting $262.84. The stock had a trading volume of 192,921 shares. The company has a market cap of $11.43 billion, a P/E ratio of 42.94 and a beta of 1.61. Acuity Brands Inc. has a 1-year low of $169.42 and a 1-year high of $280.89. The company has a 50-day moving average price of $269.26 and a 200 day moving average price of $254.18.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.03. The company had revenue of $851.50 million for the quarter. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 earnings per share. Equities research analysts forecast that Acuity Brands Inc. will post $8.01 EPS for the current fiscal year.
AYI has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Acuity Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $295.00 target price on shares of Acuity Brands in a research report on Friday, September 16th. Roth Capital initiated coverage on Acuity Brands in a research report on Thursday, August 25th. They issued a “neutral” rating and a $275.00 target price for the company. William Blair restated an “outperform” rating on shares of Acuity Brands in a research report on Monday, July 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $305.00 target price on shares of Acuity Brands in a research report on Friday, September 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Acuity Brands presently has an average rating of “Buy” and a consensus price target of $278.75.
In related news, CEO Vernon J. Nagel sold 65,060 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $268.30, for a total value of $17,455,598.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray M. Robinson sold 786 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $248.55, for a total transaction of $195,360.30. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $497,100. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.