Strs Ohio boosted its stake in Acuity Brands, Inc. (NYSE:AYI) by 40.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 177,303 shares of the electronics maker’s stock after buying an additional 50,889 shares during the quarter. Strs Ohio owned approximately 0.44% of Acuity Brands worth $21,278,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. purchased a new stake in shares of Acuity Brands during the 4th quarter valued at $33,000. SRS Capital Advisors Inc. increased its position in shares of Acuity Brands by 183.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 374 shares of the electronics maker’s stock valued at $43,000 after purchasing an additional 242 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Acuity Brands by 29.2% during the 4th quarter. Commonwealth Bank of Australia now owns 442 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 100 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Acuity Brands during the 4th quarter valued at $64,000. Finally, Rehmann Capital Advisory Group increased its position in shares of Acuity Brands by 141.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 618 shares of the electronics maker’s stock valued at $71,000 after purchasing an additional 362 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on AYI. Zacks Investment Research downgraded Acuity Brands from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. ValuEngine upgraded Acuity Brands from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. JMP Securities raised their target price on Acuity Brands from $176.00 to $184.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 4th. Robert W. Baird raised their target price on Acuity Brands from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $155.00 target price (up previously from $146.00) on shares of Acuity Brands in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $151.33.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, April 3rd. The electronics maker reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.21. The firm had revenue of $854.40 million during the quarter, compared to the consensus estimate of $877.82 million. Acuity Brands had a return on equity of 20.46% and a net margin of 8.63%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $1.89 EPS. On average, equities analysts forecast that Acuity Brands, Inc. will post 8.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, April 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.37%. Acuity Brands’s dividend payout ratio (DPR) is presently 6.33%.
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.
Further Reading: Earnings Per Share
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