Acuity Brands, Inc. (NYSE:AYI) Holdings Raised by Balyasny Asset Management LLC

Posted by on Mar 15th, 2023

Balyasny Asset Management LLC boosted its stake in Acuity Brands, Inc. (NYSE:AYI – Get Rating) by 2,234.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,024 shares of the electronics maker’s stock after buying an additional 230,700 shares during the quarter. Balyasny Asset Management LLC owned approximately 0.75% of Acuity Brands worth $37,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Acuity Brands by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 3,313,389 shares of the electronics maker’s stock worth $627,225,000 after buying an additional 60,541 shares in the last quarter. BlackRock Inc. lifted its position in Acuity Brands by 0.9% in the 1st quarter. BlackRock Inc. now owns 2,982,396 shares of the electronics maker’s stock worth $564,568,000 after buying an additional 25,598 shares in the last quarter. Wellington Management Group LLP lifted its position in Acuity Brands by 19.3% in the 1st quarter. Wellington Management Group LLP now owns 1,208,990 shares of the electronics maker’s stock worth $228,862,000 after buying an additional 195,515 shares in the last quarter. State Street Corp lifted its position in Acuity Brands by 4.2% in the 1st quarter. State Street Corp now owns 959,447 shares of the electronics maker’s stock worth $181,623,000 after buying an additional 38,316 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Acuity Brands by 9.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 604,006 shares of the electronics maker’s stock worth $95,109,000 after buying an additional 49,805 shares in the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Acuity Brands from $170.00 to $180.00 in a research note on Tuesday, January 10th. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 17th. Robert W. Baird lowered shares of Acuity Brands from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $200.00 to $190.00 in a research note on Friday, December 16th. Finally, Wells Fargo & Company increased their price target on shares of Acuity Brands from $188.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.00.

Insiders Place Their Bets

In other Acuity Brands news, CFO Karen J. Holcom sold 4,238 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $174.51, for a total value of $739,573.38. Following the sale, the chief financial officer now directly owns 16,856 shares in the company, valued at approximately $2,941,540.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Acuity Brands news, CFO Karen J. Holcom sold 4,238 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $174.51, for a total value of $739,573.38. Following the sale, the chief financial officer now directly owns 16,856 shares in the company, valued at approximately $2,941,540.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Barry R. Goldman sold 2,211 shares of the firm’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $174.31, for a total transaction of $385,399.41. Following the completion of the sale, the senior vice president now owns 5,791 shares in the company, valued at $1,009,429.21. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Acuity Brands Stock Performance

NYSE:AYI opened at $192.09 on Wednesday. Acuity Brands, Inc. has a 1 year low of $142.71 and a 1 year high of $202.90. The firm’s fifty day simple moving average is $186.29 and its 200 day simple moving average is $177.71. The company has a current ratio of 2.09, a quick ratio of 1.39 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.16 billion, a PE ratio of 17.51, a PEG ratio of 1.53 and a beta of 1.59.

Acuity Brands (NYSE:AYI – Get Rating) last posted its earnings results on Monday, January 9th. The electronics maker reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.34. The business had revenue of $997.90 million for the quarter, compared to analyst estimates of $984.46 million. Acuity Brands had a net margin of 9.11% and a return on equity of 21.40%. Acuity Brands’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $2.85 EPS. On average, sell-side analysts anticipate that Acuity Brands, Inc. will post 12.4 EPS for the current year.

Acuity Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Monday, February 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.52 annualized dividend and a yield of 0.27%. Acuity Brands’s dividend payout ratio is 4.74%.

Acuity Brands Company Profile

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Acuity Brands, Inc operates as an industrial technology company, which engages in the provision of lighting and building management solutions and services. It operates through the Acuity Brands Lighting and Lighting Controls and Intelligent Spaces Group segments. The company was founded in 2001 and is headquartered in Atlanta, GA.

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Institutional Ownership by Quarter for Acuity Brands (NYSE:AYI)

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