Ameriprise Financial Inc. Has $234.89 Million Holdings in Acuity Brands Inc (AYI)
Ameriprise Financial Inc. trimmed its stake in Acuity Brands Inc (NYSE:AYI) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,371,399 shares of the electronics maker’s stock after selling 19,892 shares during the quarter. Ameriprise Financial Inc. owned 3.26% of Acuity Brands worth $234,894,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in AYI. Eagle Asset Management Inc. lifted its holdings in shares of Acuity Brands by 2.1% during the second quarter. Eagle Asset Management Inc. now owns 366,528 shares of the electronics maker’s stock valued at $74,507,000 after purchasing an additional 7,657 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Acuity Brands by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 51,934 shares of the electronics maker’s stock valued at $10,557,000 after purchasing an additional 1,745 shares in the last quarter. Peloton Wealth Strategists bought a new position in shares of Acuity Brands during the second quarter valued at $1,235,000. Handelsbanken Fonder AB lifted its holdings in shares of Acuity Brands by 22.8% during the third quarter. Handelsbanken Fonder AB now owns 53,916 shares of the electronics maker’s stock valued at $9,235,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Acuity Brands during the second quarter valued at $384,000.
In other Acuity Brands news, EVP Mark A. Black sold 7,441 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $161.32, for a total value of $1,200,382.12. Following the completion of the sale, the executive vice president now owns 30,649 shares in the company, valued at $4,944,296.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.
Acuity Brands Inc (NYSE AYI) opened at $161.49 on Friday. Acuity Brands Inc has a 1-year low of $153.28 and a 1-year high of $257.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.07 and a quick ratio of 1.53. The firm has a market capitalization of $6,807.27, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.
Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The company had revenue of $957.60 million for the quarter, compared to the consensus estimate of $975.05 million. During the same quarter in the prior year, the company earned $2.21 earnings per share. Acuity Brands’s revenue was up 3.5% on a year-over-year basis. equities research analysts forecast that Acuity Brands Inc will post 8.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Tuesday, October 17th. Acuity Brands’s dividend payout ratio is 6.99%.
A number of brokerages have recently issued reports on AYI. BidaskClub downgraded Acuity Brands from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Wells Fargo & Company downgraded Acuity Brands from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $225.00 to $185.00 in a report on Friday, September 15th. JMP Securities raised Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 price target on the stock in a report on Tuesday, October 3rd. KeyCorp began coverage on Acuity Brands in a report on Friday, October 13th. They set a “sector weight” rating on the stock. Finally, Zacks Investment Research downgraded Acuity Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $197.17.
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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