Acuity Brands, Inc. (NYSE:AYI) Stock Position Increased by Comerica Bank

Posted by Defense World Staff on Apr 12th, 2023

Comerica Bank boosted its position in Acuity Brands, Inc. (NYSE:AYI – Get Rating) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,606 shares of the electronics maker’s stock after purchasing an additional 397 shares during the quarter. Comerica Bank owned about 0.09% of Acuity Brands worth $5,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Strs Ohio increased its position in Acuity Brands by 24.9% in the 4th quarter. Strs Ohio now owns 9,255 shares of the electronics maker’s stock valued at $1,532,000 after acquiring an additional 1,843 shares during the period. Park Avenue Securities LLC increased its position in Acuity Brands by 3.1% in the 4th quarter. Park Avenue Securities LLC now owns 2,591 shares of the electronics maker’s stock valued at $429,000 after acquiring an additional 78 shares during the period. Xponance Inc. increased its position in Acuity Brands by 9.8% in the 4th quarter. Xponance Inc. now owns 4,251 shares of the electronics maker’s stock valued at $704,000 after acquiring an additional 381 shares during the period. QV Investors Inc. increased its position in Acuity Brands by 4.7% in the 4th quarter. QV Investors Inc. now owns 2,652 shares of the electronics maker’s stock valued at $439,000 after acquiring an additional 120 shares during the period. Finally, Hedeker Wealth LLC increased its position in Acuity Brands by 5.4% in the 4th quarter. Hedeker Wealth LLC now owns 36,596 shares of the electronics maker’s stock valued at $6,061,000 after acquiring an additional 1,868 shares during the period. 93.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on AYI shares. Oppenheimer restated an “outperform” rating and issued a $210.00 target price on shares of Acuity Brands in a research report on Tuesday. StockNews.com started coverage on Acuity Brands in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. Robert W. Baird decreased their price target on Acuity Brands from $192.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. UBS Group decreased their price target on Acuity Brands from $180.00 to $170.00 in a research note on Wednesday, April 5th. Finally, Wells Fargo & Company decreased their price target on Acuity Brands from $193.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Acuity Brands has an average rating of “Moderate Buy” and an average price target of $191.88.

Acuity Brands Stock Performance

AYI opened at $159.02 on Wednesday. The firm has a market cap of $5.06 billion, a PE ratio of 13.94, a P/E/G ratio of 1.28 and a beta of 1.58. The company has a quick ratio of 1.61, a current ratio of 2.34 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $185.26 and a 200-day simple moving average of $179.19. Acuity Brands, Inc. has a fifty-two week low of $142.71 and a fifty-two week high of $202.90.

Acuity Brands (NYSE:AYI – Get Rating) last released its quarterly earnings data on Tuesday, April 4th. The electronics maker reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.51. The business had revenue of $943.60 million during the quarter, compared to analyst estimates of $959.99 million. Acuity Brands had a return on equity of 22.20% and a net margin of 9.22%. As a group, equities analysts predict that Acuity Brands, Inc. will post 12.4 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 17th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, April 14th. Acuity Brands’s dividend payout ratio is presently 4.56%.

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.