Pacer Advisors Inc. Grows Position in Acuity Brands Inc (AYI)
Pacer Advisors Inc. increased its holdings in shares of Acuity Brands Inc (NYSE:AYI) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 908 shares of the electronics maker’s stock after acquiring an additional 62 shares during the quarter. Pacer Advisors Inc.’s holdings in Acuity Brands were worth $185,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AYI. Janney Montgomery Scott LLC raised its stake in Acuity Brands by 23.7% during the first quarter. Janney Montgomery Scott LLC now owns 1,330 shares of the electronics maker’s stock worth $271,000 after acquiring an additional 255 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Acuity Brands by 22,381.8% in the first quarter. Canada Pension Plan Investment Board now owns 2,473 shares of the electronics maker’s stock valued at $504,000 after purchasing an additional 2,462 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Acuity Brands by 9.1% in the first quarter. Daiwa Securities Group Inc. now owns 1,200 shares of the electronics maker’s stock valued at $245,000 after purchasing an additional 100 shares during the period. Comerica Bank increased its stake in shares of Acuity Brands by 43.0% in the first quarter. Comerica Bank now owns 19,181 shares of the electronics maker’s stock valued at $3,393,000 after purchasing an additional 5,767 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Acuity Brands by 20.7% in the first quarter. World Asset Management Inc now owns 4,738 shares of the electronics maker’s stock valued at $967,000 after purchasing an additional 811 shares during the period.
AYI has been the topic of several analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $215.00 price target (down previously from $245.00) on shares of Acuity Brands in a research note on Tuesday, May 30th. BidaskClub lowered shares of Acuity Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Wells Fargo & Company lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $225.00 to $185.00 in a research note on Friday. Roth Capital set a $150.00 price target on shares of Acuity Brands and gave the company a “sell” rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $218.00.
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In other Acuity Brands 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 value of $1,114,108.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $200,050. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Acuity Brands Inc (NYSE:AYI) opened at 170.50 on Monday. The company has a market capitalization of $7.35 billion, a PE ratio of 23.78 and a beta of 1.42. The stock has a 50 day moving average of $184.25 and a 200 day moving average of $186.96. Acuity Brands Inc has a 12-month low of $157.33 and a 12-month high of $267.08.
Acuity Brands (NYSE:AYI) last announced its earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $891.60 million during the quarter, compared to the consensus estimate of $878.66 million. During the same period in the previous year, the firm posted $2.06 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Acuity Brands Inc will post $8.33 EPS for the current year.
Acuity Brands declared that its Board of Directors has authorized a share buyback program on Thursday, June 29th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the electronics maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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.
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