Acuity Brands, Inc. (NYSE:AYI) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Acuity Brands, Inc. (NYSE:AYIFree Report) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,284 shares of the electronics maker’s stock after selling 25,948 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.46% of Acuity Brands worth $38,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in Acuity Brands by 77.3% during the 4th quarter. Venturi Wealth Management LLC now owns 133 shares of the electronics maker’s stock worth $27,000 after buying an additional 58 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of Acuity Brands in the fourth quarter valued at $29,000. Raleigh Capital Management Inc. boosted its holdings in Acuity Brands by 5,666.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 170 shares during the period. Global Retirement Partners LLC grew its stake in Acuity Brands by 85.7% during the 4th quarter. Global Retirement Partners LLC now owns 221 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 102 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Acuity Brands by 900.0% during the 4th quarter. Assetmark Inc. now owns 250 shares of the electronics maker’s stock worth $51,000 after purchasing an additional 225 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Maya Leibman acquired 200 shares of Acuity Brands stock in a transaction that occurred on Thursday, April 25th. The stock was purchased 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 in the company, valued at $49,782. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Acuity Brands Stock Performance

NYSE AYI opened at $239.14 on Friday. The firm has a market cap of $7.36 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.68 and a beta of 1.41. Acuity Brands, Inc. has a 52-week low of $155.34 and a 52-week high of $272.74. The business’s 50-day moving average price is $253.45 and its 200 day moving average price is $245.96. The company has a quick ratio of 2.15, a current ratio of 2.77 and a debt-to-equity ratio of 0.22.

Acuity Brands (NYSE:AYIGet Free Report) last announced its earnings results on Thursday, June 27th. The electronics maker reported $4.15 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.33. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The company had revenue of $968.10 million for the quarter, compared to the consensus estimate of $996.52 million. During the same period last year, the business posted $3.50 EPS. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Acuity Brands, Inc. will post 14.24 earnings per share for the current year.

Acuity Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, July 18th. Acuity Brands’s dividend payout ratio (DPR) is presently 4.88%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Acuity Brands from $227.00 to $261.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Wells Fargo & Company cut shares of Acuity Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $295.00 to $260.00 in a research report on Friday, June 28th. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Oppenheimer lifted their price target on Acuity Brands from $250.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Robert W. Baird cut their target price on Acuity Brands from $286.00 to $280.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $279.00.

Check Out Our Latest Research Report on AYI

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.

Further Reading

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

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