Shell Asset Management Co. Sells 371 Shares of Acuity Brands, Inc. (NYSE:AYI)

Posted by on May 9th, 2023

Shell Asset Management Co. lessened its holdings in shares of Acuity Brands, Inc. (NYSE:AYI – Get Rating) by 16.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,825 shares of the electronics maker’s stock after selling 371 shares during the period. Shell Asset Management Co.’s holdings in Acuity Brands were worth $302,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ellevest Inc. grew its holdings in shares of Acuity Brands by 52.7% during the third quarter. Ellevest Inc. now owns 197 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 68 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Acuity Brands during the third quarter valued at approximately $55,000. Ronald Blue Trust Inc. grew its stake in shares of Acuity Brands by 121.2% during the fourth quarter. Ronald Blue Trust Inc. now owns 365 shares of the electronics maker’s stock valued at $57,000 after purchasing an additional 200 shares during the last quarter. Zions Bancorporation N.A. grew its stake in shares of Acuity Brands by 2,926.7% during the first quarter. Zions Bancorporation N.A. now owns 454 shares of the electronics maker’s stock valued at $86,000 after purchasing an additional 439 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Acuity Brands during the fourth quarter valued at approximately $87,000. Institutional investors own 93.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AYI shares. Wells Fargo & Company decreased their price target on Acuity Brands from $193.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, April 5th. Robert W. Baird reduced their price objective on shares of Acuity Brands from $192.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. StockNews.com began coverage on Acuity Brands in a report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Acuity Brands in a research note on Tuesday, April 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Acuity Brands from $201.00 to $173.00 and set a “neutral” rating for the company in a research report 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 assigned 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 a consensus target price of $191.88.

Insider Transactions at Acuity Brands

In related news, Director Laura O’shaughnessy bought 632 shares of Acuity Brands stock in a transaction that occurred on Tuesday, April 11th. The shares were acquired at an average cost of $158.05 per share, for a total transaction of $99,887.60. Following the completion of the acquisition, the director now directly owns 2,111 shares of the company’s stock, valued at approximately $333,643.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Acuity Brands Trading Up 0.2 %

Shares of NYSE:AYI opened at $158.27 on Tuesday. The business has a 50 day moving average of $172.35 and a 200-day moving average of $178.43. The stock has a market cap of $5.03 billion, a PE ratio of 13.87, a P/E/G ratio of 1.23 and a beta of 1.57. Acuity Brands, Inc. has a 12-month low of $142.71 and a 12-month high of $202.90. The company has a quick ratio of 1.61, a current ratio of 2.34 and a debt-to-equity ratio of 0.25.

Acuity Brands (NYSE:AYI – Get Rating) last announced its earnings results on Tuesday, April 4th. The electronics maker reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.51. The company had revenue of $943.60 million during the quarter, compared to analysts’ expectations of $959.99 million. Acuity Brands had a net margin of 9.22% and a return on equity of 22.20%. As a group, equities research analysts forecast that Acuity Brands, Inc. will post 12.79 earnings per share for the current year.

Acuity Brands Announces Dividend

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

Acuity Brands 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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