Allspring Global Investments Holdings LLC Sells 1,164 Shares of Acuity, Inc. $AYI

Allspring Global Investments Holdings LLC lowered its holdings in Acuity, Inc. (NYSE:AYI) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,658 shares of the electronics maker’s stock after selling 1,164 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Acuity were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in Acuity by 7.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,446 shares of the electronics maker’s stock valued at $1,625,000 after purchasing an additional 380 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Acuity by 29.1% in the 2nd quarter. Apollon Wealth Management LLC now owns 4,441 shares of the electronics maker’s stock valued at $1,325,000 after acquiring an additional 1,000 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Acuity by 7.9% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 26,152 shares of the electronics maker’s stock valued at $7,802,000 after acquiring an additional 1,909 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Acuity by 4.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 26,200 shares of the electronics maker’s stock valued at $7,817,000 after acquiring an additional 1,000 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Acuity by 12.1% in the 2nd quarter. QRG Capital Management Inc. now owns 10,279 shares of the electronics maker’s stock valued at $3,067,000 after acquiring an additional 1,113 shares during the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Wall Street Analyst Weigh In

AYI has been the topic of several recent research reports. Robert W. Baird upped their price objective on shares of Acuity from $335.00 to $360.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Acuity in a research note on Wednesday, October 8th. Oppenheimer boosted their target price on shares of Acuity from $380.00 to $435.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Zacks Research upgraded shares of Acuity from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Cowen reaffirmed a “buy” rating on shares of Acuity in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Acuity has a consensus rating of “Moderate Buy” and a consensus price target of $395.17.

Acuity Price Performance

Acuity stock opened at $365.79 on Wednesday. Acuity, Inc. has a 12-month low of $216.81 and a 12-month high of $375.67. The stock has a market cap of $11.21 billion, a P/E ratio of 29.19, a PEG ratio of 1.94 and a beta of 1.64. The company has a 50-day moving average price of $340.04 and a 200 day moving average price of $296.39. The company has a current ratio of 1.95, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Acuity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 17th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, October 17th. Acuity’s dividend payout ratio (DPR) is presently 5.43%.

About Acuity

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.