AGF Investments America Inc. reduced its position in shares of Acuity Brands, Inc. (NYSE:AYI) by 32.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,900 shares of the electronics maker’s stock after selling 12,206 shares during the period. Acuity Brands makes up 2.2% of AGF Investments America Inc.’s investment portfolio, making the stock its 16th largest position. AGF Investments America Inc.’s holdings in Acuity Brands were worth $5,284,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtus Investment Advisers Inc. bought a new position in Acuity Brands during the third quarter worth $125,000. Integrated Investment Consultants LLC increased its position in Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock worth $114,000 after buying an additional 205 shares during the period. Van ECK Associates Corp increased its position in Acuity Brands by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 570 shares of the electronics maker’s stock worth $132,000 after buying an additional 42 shares during the period. Capital Analysts LLC bought a new position in Acuity Brands during the fourth quarter worth $151,000. Finally, WFG Advisors LP increased its position in Acuity Brands by 2,896.3% in the fourth quarter. WFG Advisors LP now owns 809 shares of the electronics maker’s stock worth $123,000 after buying an additional 782 shares during the period. 91.28% of the stock is currently owned by institutional investors.
Acuity Brands, Inc. (NYSE:AYI) traded up 0.08% during mid-day trading on Friday, hitting $169.24. 698,726 shares of the company were exchanged. Acuity Brands, Inc. has a 12-month low of $167.88 and a 12-month high of $280.89. The company has a market capitalization of $7.41 billion, a P/E ratio of 24.32 and a beta of 1.33. The company’s 50-day moving average is $179.60 and its 200 day moving average is $213.23.
Acuity Brands (NYSE:AYI) last released its earnings results on Tuesday, April 4th. The electronics maker reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by $0.06. The firm had revenue of $804.70 million during the quarter, compared to analyst estimates of $827.22 million. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. Acuity Brands’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.80 EPS. Analysts expect that Acuity Brands, Inc. will post $8.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Monday, April 17th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, April 12th. This represents a $0.52 annualized dividend and a yield of 0.31%. Acuity Brands’s payout ratio is 7.50%.
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A number of research analysts have recently weighed in on the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $215.00 price target (down previously from $265.00) on shares of Acuity Brands in a research note on Thursday, April 6th. Roth Capital downgraded Acuity Brands from a “neutral” rating to a “sell” rating and set a $150.00 price target on the stock. in a research note on Friday, January 27th. Robert W. Baird cut their price target on Acuity Brands from $242.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Canaccord Genuity cut their price target on Acuity Brands from $240.00 to $209.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Finally, Goldman Sachs Group Inc downgraded Acuity Brands from a “buy” rating to a “neutral” rating and cut their price target for the company from $256.00 to $186.00 in a research note on Wednesday, April 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $230.86.
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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