Livingston Group Asset Management CO operating as Southport Capital Management lessened its stake in Acuity Brands, Inc. (NYSE:AYI) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,450 shares of the electronics maker’s stock after selling 2,200 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Acuity Brands were worth $1,854,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new position in shares of Acuity Brands in the fourth quarter valued at approximately $33,000. SRS Capital Advisors Inc. lifted its holdings in shares of Acuity Brands by 183.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 374 shares of the electronics maker’s stock valued at $43,000 after purchasing an additional 242 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in Acuity Brands by 29.2% during the fourth quarter. Commonwealth Bank of Australia now owns 442 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 100 shares during the period. Acadian Asset Management LLC bought a new stake in Acuity Brands during the fourth quarter worth $64,000. Finally, Rehmann Capital Advisory Group lifted its holdings in Acuity Brands by 141.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 618 shares of the electronics maker’s stock worth $71,000 after acquiring an additional 362 shares during the period. Institutional investors own 94.40% of the company’s stock.
Acuity Brands stock traded down $0.09 during mid-day trading on Wednesday, reaching $141.67. 66,513 shares of the company’s stock were exchanged, compared to its average volume of 519,773. The firm has a market capitalization of $5.64 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.54. Acuity Brands, Inc. has a one year low of $103.48 and a one year high of $173.01. The company has a current ratio of 2.11, a quick ratio of 1.40 and a debt-to-equity ratio of 0.19.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, April 3rd. The electronics maker reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.21. Acuity Brands had a return on equity of 20.46% and a net margin of 8.63%. The business had revenue of $854.40 million during the quarter, compared to the consensus estimate of $877.82 million. During the same period last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that Acuity Brands, Inc. will post 8.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Tuesday, April 16th. Acuity Brands’s dividend payout ratio is currently 6.33%.
A number of brokerages recently commented on AYI. Zacks Investment Research lowered Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded Acuity Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Robert W. Baird lifted their price target on Acuity Brands from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. JMP Securities lifted their price target on Acuity Brands from $176.00 to $184.00 and gave the stock a “market outperform” rating in a report on Thursday, April 4th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $155.00 price target (up from $146.00) on shares of Acuity Brands in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $151.33.
Acuity Brands Profile
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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