Carderock Capital Management Inc. trimmed its position in Acuity Brands Inc (NYSE:AYI) by 34.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,505 shares of the electronics maker’s stock after selling 3,872 shares during the period. Carderock Capital Management Inc.’s holdings in Acuity Brands were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in shares of Acuity Brands by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 2,327 shares of the electronics maker’s stock valued at $473,000 after acquiring an additional 6 shares during the period. Cleararc Capital Inc. increased its position in shares of Acuity Brands by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 1,098 shares of the electronics maker’s stock valued at $224,000 after acquiring an additional 10 shares during the period. ZWJ Investment Counsel Inc. increased its position in shares of Acuity Brands by 0.6% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 2,463 shares of the electronics maker’s stock valued at $502,000 after acquiring an additional 14 shares during the period. CIBC Asset Management Inc increased its position in shares of Acuity Brands by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,024 shares of the electronics maker’s stock valued at $818,000 after acquiring an additional 15 shares during the period. Finally, Capital Analysts LLC increased its position in shares of Acuity Brands by 3.8% in the 1st quarter. Capital Analysts LLC now owns 680 shares of the electronics maker’s stock valued at $139,000 after acquiring an additional 25 shares during the period. 95.15% of the stock is currently owned by hedge funds and other institutional investors.

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

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Shares of Acuity Brands Inc (NYSE:AYI) traded up 1.34% on Wednesday, reaching $178.92. 33,849 shares of the company were exchanged. Acuity Brands Inc has a 52-week low of $157.33 and a 52-week high of $272.55. The stock has a 50 day moving average of $190.06 and a 200-day moving average of $188.63. The company has a market capitalization of $7.71 billion, a P/E ratio of 24.96 and a beta of 1.42.

Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Thursday, June 29th. The electronics maker reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $891.60 million for the quarter, compared to the consensus estimate of $878.66 million. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. On average, analysts predict that Acuity Brands Inc will post $8.33 EPS for the current fiscal year.

Acuity Brands declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 29th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the electronics maker to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Several equities research analysts have commented on the stock. BidaskClub raised shares of Acuity Brands from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $201.00 price target on the stock in a report on Thursday, June 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $215.00 price target on shares of Acuity Brands in a report on Friday, June 30th. Roth Capital set a $150.00 price target on shares of Acuity Brands and gave the company a “sell” rating in a report on Tuesday, June 27th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $206.00 price target (down from $210.00) on shares of Acuity Brands in a report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $219.00.

Acuity Brands Company Profile

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.

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

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