Gamco Investors INC. ET AL held its stake in shares of Acuity Brands Inc (NYSE:AYI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,562 shares of the electronics maker’s stock at the end of the second quarter. Gamco Investors INC. ET AL’s holdings in Acuity Brands were worth $1,537,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Candriam Luxembourg S.C.A. boosted its stake in shares of Acuity Brands by 34.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 3,278 shares of the electronics maker’s stock valued at $669,000 after buying an additional 844 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Acuity Brands by 6.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,176 shares of the electronics maker’s stock valued at $224,000 after buying an additional 70 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Acuity Brands by 8.7% in the first quarter. ProShare Advisors LLC now owns 5,896 shares of the electronics maker’s stock valued at $1,203,000 after buying an additional 472 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Acuity Brands by 37.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,992 shares of the electronics maker’s stock valued at $610,000 after buying an additional 816 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Acuity Brands by 23.7% in the first quarter. Janney Montgomery Scott LLC now owns 1,330 shares of the electronics maker’s stock valued at $271,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.

Acuity Brands Inc (NYSE:AYI) opened at 176.75 on Friday. The stock has a 50 day moving average price of $194.54 and a 200-day moving average price of $190.79. Acuity Brands Inc has a one year low of $157.33 and a one year high of $278.21. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 24.65 and a beta of 1.41.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The business had revenue of $891.60 million for the quarter, compared to analysts’ expectations of $878.66 million. During the same quarter last year, the company posted $2.06 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Acuity Brands Inc will post $8.31 earnings per share for the current fiscal year.

Acuity Brands declared that its Board of Directors has initiated a share buyback program on Thursday, June 29th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the electronics maker to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th were given a dividend of $0.13 per share. The ex-dividend date was Friday, July 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.29%. Acuity Brands’s payout ratio is 7.24%.

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Several equities research analysts have weighed in on AYI shares. Deutsche Bank AG reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Acuity Brands in a report on Tuesday, May 30th. Zacks Investment Research upgraded Acuity Brands from a “sell” rating to a “hold” rating and set a $193.00 price objective for the company in a research note on Tuesday, June 6th. Wells Fargo & Company restated an “outperform” rating and set a $200.00 price objective (up from $196.00) on shares of Acuity Brands in a research note on Tuesday, June 6th. Robert W. Baird restated an “outperform” rating and set a $206.00 price objective (down from $210.00) on shares of Acuity Brands in a research note on Monday, June 19th. Finally, Roth Capital set a $150.00 price objective on Acuity Brands and gave the stock a “sell” rating in a research note on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $219.00.

In other news, Director Peter C. Browning sold 970 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $200.05, for a total transaction of $194,048.50. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $200,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark A. Black sold 5,427 shares of the stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $205.29, for a total transaction of $1,114,108.83. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

About Acuity Brands

Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.

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

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