ETRADE Capital Management LLC cut its position in shares of Acuity Brands Inc (NYSE:AYI) by 87.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 985 shares of the electronics maker’s stock after selling 6,651 shares during the quarter. ETRADE Capital Management LLC’s holdings in Acuity Brands were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Acuity Brands by 2.8% in the second quarter. Vanguard Group Inc. now owns 4,299,432 shares of the electronics maker’s stock valued at $873,989,000 after buying an additional 117,422 shares during the period. BlackRock Inc. boosted its position in Acuity Brands by 12.8% during the second quarter. BlackRock Inc. now owns 4,260,836 shares of the electronics maker’s stock valued at $866,145,000 after acquiring an additional 484,537 shares during the last quarter. State Street Corp boosted its position in Acuity Brands by 5.2% during the first quarter. State Street Corp now owns 2,024,076 shares of the electronics maker’s stock valued at $412,907,000 after acquiring an additional 100,424 shares during the last quarter. Standard Life Investments LTD boosted its position in Acuity Brands by 24.9% during the second quarter. Standard Life Investments LTD now owns 1,786,392 shares of the electronics maker’s stock valued at $363,146,000 after acquiring an additional 356,199 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Acuity Brands by 0.8% during the second quarter. Ameriprise Financial Inc. now owns 1,391,291 shares of the electronics maker’s stock valued at $282,740,000 after acquiring an additional 11,248 shares during the last quarter.

In other Acuity Brands news, EVP Mark A. Black sold 5,427 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was 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 available at the SEC website. Also, Director Peter C. Browning sold 970 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $200.05, for a total value of $194,048.50. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $200,050. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded Acuity Brands from a “sell” rating to a “hold” rating and set a $193.00 price target for the company in a report on Tuesday, June 6th. Wells Fargo & Company reissued an “outperform” rating and issued 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 reissued an “outperform” rating and issued a $206.00 price objective (down from $210.00) on shares of Acuity Brands in a research note on Monday, June 19th. Roth Capital set a $150.00 price objective on Acuity Brands and gave the company a “sell” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company cut their target price on Acuity Brands from $230.00 to $226.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $210.14.

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Shares of Acuity Brands Inc (AYI) opened at 170.08 on Tuesday. The stock’s 50 day moving average price is $174.34 and its 200 day moving average price is $183.17. Acuity Brands Inc has a 12-month low of $153.28 and a 12-month high of $264.20. The company has a market cap of $7.33 billion, a P/E ratio of 23.72 and a beta of 1.43.

Acuity Brands announced that its board has authorized a stock buyback plan on Thursday, June 29th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the electronics maker to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a yield of 0.31%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.24%.

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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