Nordea Investment Management AB reduced its stake in Acuity Brands, Inc. (NYSE:AYI) by 29.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,548 shares of the electronics maker’s stock after selling 3,548 shares during the period. Nordea Investment Management AB’s holdings in Acuity Brands were worth $1,025,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Muhlenkamp & Co. Inc. purchased a new stake in shares of Acuity Brands during the first quarter worth approximately $5,173,000. Cove Street Capital LLC grew its holdings in Acuity Brands by 73.8% in the first quarter. Cove Street Capital LLC now owns 56,515 shares of the electronics maker’s stock valued at $6,782,000 after purchasing an additional 23,991 shares during the last quarter. Andra AP fonden acquired a new stake in Acuity Brands in the first quarter valued at $5,496,000. Trexquant Investment LP acquired a new stake in Acuity Brands in the first quarter valued at $1,291,000. Finally, Tyers Asset Management LLC grew its holdings 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 valued at $685,000 after purchasing an additional 1,952 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.
A number of analysts recently commented on AYI shares. CIBC raised Mullen Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 3rd. Robert W. Baird set a $8.00 price objective on SRC Energy and gave the company a “buy” rating in a research note on Thursday, April 4th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Oppenheimer set a $32.00 price objective on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Roth Capital set a $7.00 target price on Arcimoto and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $149.90.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Tuesday, July 2nd. The electronics maker reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.16. The company had revenue of $947.60 million for the quarter, compared to the consensus estimate of $969.48 million. Acuity Brands had a return on equity of 19.90% and a net margin of 9.02%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $2.37 EPS. On average, equities analysts predict that Acuity Brands, Inc. will post 9.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 17th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $0.52 annualized dividend and a dividend yield of 0.40%. Acuity Brands’s payout ratio is currently 6.33%.
In related news, Director Ray M. Robinson sold 2,363 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.15, for a total transaction of $307,544.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.
Acuity Brands 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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