AGF Investments America Inc. decreased its stake 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 comprises about 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 SEC filing.
Other hedge funds have also made changes to their positions in the company. World Asset Management Inc increased its stake in shares of Acuity Brands by 2.2% in the third quarter. World Asset Management Inc now owns 4,260 shares of the electronics maker’s stock valued at $1,127,000 after buying an additional 92 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Acuity Brands during the third quarter valued at $649,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Acuity Brands by 191.1% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 11,447 shares of the electronics maker’s stock valued at $3,029,000 after buying an additional 7,514 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Acuity Brands by 15.8% in the third quarter. Hanseatic Management Services Inc. now owns 14,083 shares of the electronics maker’s stock valued at $3,726,000 after buying an additional 1,921 shares during the last quarter. Finally, Carderock Capital Management Inc. acquired a new stake in shares of Acuity Brands during the third quarter valued at $1,862,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Acuity Brands, Inc. (NYSE:AYI) traded up 0.08% during trading on Friday, hitting $169.24. The company had a trading volume of 698,726 shares. The stock has a market cap of $7.41 billion, a PE ratio of 24.32 and a beta of 1.33. Acuity Brands, Inc. has a 12-month low of $167.88 and a 12-month high of $280.89. The firm has a 50 day moving average of $179.60 and a 200 day moving average of $213.23.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings data 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. Acuity Brands had a return on equity of 20.71% and a net margin of 8.93%. The firm had revenue of $804.70 million for the quarter, compared to analyst estimates of $827.22 million. During the same period in the prior year, the company posted $1.80 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Acuity Brands, Inc. will post $8.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 17th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Wednesday, April 12th. Acuity Brands’s dividend payout ratio (DPR) is currently 7.50%.
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Several brokerages have recently issued reports on AYI. Roth Capital cut Acuity Brands from a “neutral” rating to a “sell” rating and set a $150.00 price target on the stock. in a research report on Friday, January 27th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $265.00 price target on shares of Acuity Brands in a research report on Tuesday, February 14th. Zacks Investment Research upgraded Acuity Brands from a “sell” rating to a “hold” rating in a research report on Monday, March 6th. Deutsche Bank AG lowered their price target on Acuity Brands from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, March 14th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research report on Tuesday, March 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average 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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