Xact Kapitalforvaltning AB increased its holdings in shares of Acuity Brands, Inc. (NYSE:AYI) by 6.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 10,082 shares of the electronics maker’s stock after purchasing an additional 601 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Acuity Brands were worth $1,210,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AYI. Norges Bank purchased a new position in shares of Acuity Brands during the fourth quarter valued at $55,635,000. Dimensional Fund Advisors LP grew its stake in Acuity Brands by 42.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 401,655 shares of the electronics maker’s stock valued at $46,170,000 after purchasing an additional 119,548 shares in the last quarter. BlackRock Inc. grew its stake in Acuity Brands by 2.7% in the fourth quarter. BlackRock Inc. now owns 4,157,697 shares of the electronics maker’s stock valued at $477,928,000 after purchasing an additional 108,678 shares in the last quarter. Seizert Capital Partners LLC grew its stake in Acuity Brands by 20.8% in the fourth quarter. Seizert Capital Partners LLC now owns 548,460 shares of the electronics maker’s stock valued at $63,045,000 after purchasing an additional 94,303 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in Acuity Brands in the fourth quarter valued at about $8,279,000. Institutional investors and hedge funds own 91.44% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Acuity Brands from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a research note on Monday, April 15th. ValuEngine upgraded Acuity Brands from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. JMP Securities boosted their target price on Acuity Brands from $176.00 to $184.00 and gave the company a “market outperform” rating in a research note on Thursday, April 4th. Robert W. Baird boosted their target price on Acuity Brands from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Credit Suisse Group lowered their target price on Acuity Brands from $155.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $149.33.
NYSE AYI traded down $0.73 on Tuesday, reaching $133.30. The stock had a trading volume of 6,616 shares, compared to its average volume of 305,762. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.11 and a quick ratio of 1.40. Acuity Brands, Inc. has a 1 year low of $103.48 and a 1 year high of $173.01. The company has a market capitalization of $5.35 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67.
Acuity Brands (NYSE:AYI) last issued its earnings results on Wednesday, April 3rd. The electronics maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.21. The firm had revenue of $854.40 million for the quarter, compared to the consensus estimate of $877.82 million. Acuity Brands had a return on equity of 20.46% and a net margin of 8.63%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, equities analysts anticipate that Acuity Brands, Inc. will post 8.82 EPS for the current year.
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Acuity Brands Profile
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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