American International Group Inc. Reduces Stake in Acuity Brands, Inc. (NYSE:AYI)

American International Group Inc. lessened its position in Acuity Brands, Inc. (NYSE:AYIFree Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,807 shares of the electronics maker’s stock after selling 2,139 shares during the quarter. American International Group Inc. owned approximately 0.14% of Acuity Brands worth $8,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in shares of Acuity Brands by 77.3% in the 4th quarter. Venturi Wealth Management LLC now owns 133 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 58 shares during the period. EdgeRock Capital LLC purchased a new position in Acuity Brands during the fourth quarter valued at $29,000. Global Retirement Partners LLC raised its stake in Acuity Brands by 85.7% during the fourth quarter. Global Retirement Partners LLC now owns 221 shares of the electronics maker’s stock valued at $50,000 after buying an additional 102 shares during the last quarter. Assetmark Inc. raised its stake in Acuity Brands by 900.0% during the fourth quarter. Assetmark Inc. now owns 250 shares of the electronics maker’s stock valued at $51,000 after buying an additional 225 shares during the last quarter. Finally, Evermay Wealth Management LLC purchased a new position in Acuity Brands during the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

AYI has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Acuity Brands from $236.00 to $286.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Oppenheimer lifted their price objective on Acuity Brands from $250.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company lifted their price objective on Acuity Brands from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. StockNews.com upgraded Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group lifted their target price on Acuity Brands from $227.00 to $261.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $289.25.

Read Our Latest Report on AYI

Acuity Brands Stock Down 0.4 %

Acuity Brands stock opened at $251.01 on Monday. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.73 and a beta of 1.44. The stock has a fifty day simple moving average of $258.00 and a two-hundred day simple moving average of $238.14. Acuity Brands, Inc. has a 12 month low of $154.72 and a 12 month high of $272.74. The company has a current ratio of 2.59, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23.

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

Acuity Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Tuesday, April 16th. Acuity Brands’s payout ratio is currently 5.02%.

Acuity Brands 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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