PNC Financial Services Group Inc. Trims Stock Holdings in Acuity Brands, Inc. (NYSE:AYI)

PNC Financial Services Group Inc. trimmed its holdings in Acuity Brands, Inc. (NYSE:AYIFree Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,523 shares of the electronics maker’s stock after selling 222 shares during the period. PNC Financial Services Group Inc.’s holdings in Acuity Brands were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in Acuity Brands in the 4th quarter valued at approximately $841,000. Norges Bank purchased a new position in Acuity Brands in the 4th quarter valued at approximately $68,686,000. Hayek Kallen Investment Management purchased a new position in shares of Acuity Brands during the 4th quarter valued at $214,000. Quadrant Capital Group LLC grew its position in shares of Acuity Brands by 37.2% during the 4th quarter. Quadrant Capital Group LLC now owns 343 shares of the electronics maker’s stock valued at $70,000 after purchasing an additional 93 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Acuity Brands during the 4th quarter valued at $649,000. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Maya Leibman acquired 200 shares of the stock in a transaction dated Thursday, April 25th. The stock was purchased at an average cost of $248.91 per share, with a total value of $49,782.00. Following the completion of the purchase, the director now owns 200 shares in the company, valued at approximately $49,782. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Maya Leibman acquired 200 shares of the stock in a transaction dated Thursday, April 25th. The stock was purchased at an average cost of $248.91 per share, with a total value of $49,782.00. Following the completion of the purchase, the director now owns 200 shares in the company, valued at approximately $49,782. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Karen J. Holcom sold 7,745 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $262.24, for a total transaction of $2,031,048.80. Following the transaction, the chief financial officer now directly owns 20,287 shares of the company’s stock, valued at $5,320,062.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AYI. Oppenheimer boosted their price target on shares of Acuity Brands from $250.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Robert W. Baird boosted their price target on shares of Acuity Brands from $236.00 to $286.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. The Goldman Sachs Group boosted their price target on shares of Acuity Brands from $227.00 to $261.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company upped their target price on shares of Acuity Brands from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $289.25.

Read Our Latest Stock Analysis on Acuity Brands

Acuity Brands Stock Performance

Acuity Brands stock opened at $255.80 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.59 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $7.88 billion, a PE ratio of 21.39, a P/E/G ratio of 1.75 and a beta of 1.44. The firm has a fifty day simple moving average of $258.69 and a two-hundred day simple moving average of $236.75. Acuity Brands, Inc. has a twelve month low of $154.72 and a twelve month high of $272.74.

Acuity Brands (NYSE:AYIGet Free Report) last posted its quarterly earnings results on Wednesday, April 3rd. The electronics maker reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.23. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $897.01 million. Acuity Brands had a net margin of 9.81% and a return on equity of 21.22%. Research analysts expect that Acuity Brands, Inc. will post 14.48 EPS for the current year.

Acuity Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.23%. The ex-dividend date was Tuesday, April 16th. Acuity Brands’s dividend payout ratio is presently 5.02%.

Acuity Brands Company Profile

(Free Report)

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.

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

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