Commerzbank Aktiengesellschaft FI acquired a new position in Acuity Brands Inc (NYSE:AYI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,392 shares of the electronics maker’s stock, valued at approximately $486,000.
A number of other institutional investors and hedge funds have also made changes to their positions in AYI. Seven Bridges Advisors LLC purchased a new stake in Acuity Brands in the second quarter worth about $117,000. Van ECK Associates Corp grew its holdings in Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock worth $125,000 after purchasing an additional 44 shares during the period. Global X Management Co. LLC grew its holdings in Acuity Brands by 204.1% in the first quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock worth $152,000 after purchasing an additional 500 shares during the period. Penserra Capital Management LLC grew its holdings in Acuity Brands by 21.1% in the second quarter. Penserra Capital Management LLC now owns 780 shares of the electronics maker’s stock worth $158,000 after purchasing an additional 136 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Acuity Brands by 3.3% in the first quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock worth $173,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 95.15% of the company’s stock.
A number of equities research analysts have weighed in on the stock. JMP Securities restated an “underperform” rating and issued a $183.00 price objective (up previously from $170.00) on shares of Acuity Brands in a report on Friday, June 30th. Deutsche Bank AG upped their price objective on shares of Acuity Brands from $215.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Canaccord Genuity reiterated a “buy” rating and issued a $215.00 target price on shares of Acuity Brands in a research note on Friday, June 30th. BidaskClub upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Oppenheimer Holdings, Inc. dropped their target price on shares of Acuity Brands from $265.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $219.00.
In other Acuity Brands news, Director Peter C. Browning sold 970 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $200.05, for a total transaction of $194,048.50. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $200,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark A. Black sold 5,427 shares of the business’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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Acuity Brands Inc (NYSE AYI) opened at 179.75 on Friday. The company has a market cap of $7.75 billion, a P/E ratio of 25.07 and a beta of 1.42. Acuity Brands Inc has a 12 month low of $157.33 and a 12 month high of $267.08. The company’s 50-day moving average is $188.05 and its 200-day moving average is $188.43.
Acuity Brands (NYSE:AYI) last released its earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. The company 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%. Acuity Brands’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 EPS. On average, equities research analysts expect that Acuity Brands Inc will post $8.33 EPS for the current fiscal year.
Acuity Brands announced that its board has authorized a stock repurchase program on Thursday, June 29th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Acuity Brands 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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