Icon Advisers Inc. Co. Has $610,000 Holdings in Acuity Brands Inc (AYI)

Icon Advisers Inc. Co. maintained its position in Acuity Brands Inc (NYSE:AYI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the electronics maker’s stock at the end of the second quarter. Icon Advisers Inc. Co.’s holdings in Acuity Brands were worth $610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Teachers Advisors LLC boosted its stake in Acuity Brands by 10.1% during the 2nd quarter. Teachers Advisors LLC now owns 58,099 shares of the electronics maker’s stock valued at $11,810,000 after acquiring an additional 5,343 shares during the last quarter. Seven Eight Capital LP boosted its stake in Acuity Brands by 23,600.0% during the 2nd quarter. Seven Eight Capital LP now owns 23,700 shares of the electronics maker’s stock valued at $4,818,000 after acquiring an additional 23,600 shares during the last quarter. Peloton Wealth Strategists bought a new position in Acuity Brands during the 2nd quarter valued at $1,235,000. Raymond James Trust N.A. boosted its stake in Acuity Brands by 14.2% during the 2nd quarter. Raymond James Trust N.A. now owns 1,129 shares of the electronics maker’s stock valued at $229,000 after acquiring an additional 140 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in Acuity Brands by 0.4% during the 2nd quarter. Stephens Investment Management Group LLC now owns 94,221 shares of the electronics maker’s stock valued at $19,153,000 after acquiring an additional 418 shares during the last quarter.

A number of research analysts have commented on the stock. Robert W. Baird downgraded shares of Acuity Brands from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $212.00 to $178.00 in a research note on Tuesday. Wells Fargo & Company downgraded shares of Acuity Brands from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $225.00 to $185.00 in a research note on Friday. BidaskClub downgraded shares of Acuity Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Wolfe Research assumed coverage on shares of Acuity Brands in a research note on Tuesday, July 11th. They set an “outperform” rating and a $237.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Acuity Brands has a consensus rating of “Hold” and an average target price of $216.53.

In other Acuity Brands news, EVP Mark A. Black sold 5,427 shares of Acuity Brands stock in a transaction on Friday, July 14th. The shares were sold at an average price of $205.29, for a total transaction of $1,114,108.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Browning sold 970 shares of Acuity Brands stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $200.05, for a total transaction of $194,048.50. Following the sale, the director now owns 1,000 shares in the company, valued at approximately $200,050. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Acuity Brands Inc (NYSE:AYI) opened at 167.83 on Tuesday. The stock has a 50 day moving average of $183.22 and a 200-day moving average of $186.26. The company has a market capitalization of $7.23 billion, a P/E ratio of 23.41 and a beta of 1.42. Acuity Brands Inc has a 52-week low of $157.33 and a 52-week high of $267.08.

Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.12. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The firm had revenue of $891.60 million for the quarter, compared to the consensus estimate of $878.66 million. During the same quarter in the previous year, the company earned $2.06 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Acuity Brands Inc will post $8.33 earnings per share for the current year.

Acuity Brands announced that its board has authorized a share buyback program on Thursday, June 29th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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Acuity Brands 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.

Institutional Ownership by Quarter for Acuity Brands (NYSE:AYI)

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