Creative Planning Sells 297 Shares of Acuity Brands, Inc. (NYSE:AYI)

Posted by on Oct 17th, 2023

Creative Planning decreased its holdings in shares of Acuity Brands, Inc. (NYSE:AYI – Free Report) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,308 shares of the electronics maker’s stock after selling 297 shares during the quarter. Creative Planning’s holdings in Acuity Brands were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in Acuity Brands by 1,192.3% during the 1st quarter. Global Retirement Partners LLC now owns 168 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 155 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Acuity Brands in the fourth quarter worth $33,000. Dark Forest Capital Management LP bought a new position in shares of Acuity Brands in the first quarter worth $41,000. Parkside Financial Bank & Trust increased its holdings in shares of Acuity Brands by 82.3% in the first quarter. Parkside Financial Bank & Trust now owns 330 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 149 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of Acuity Brands by 96.5% in the first quarter. National Bank of Canada FI now owns 340 shares of the electronics maker’s stock worth $62,000 after purchasing an additional 167 shares during the period. Institutional investors own 95.58% of the company’s stock.

Acuity Brands Stock Up 0.4 %

Shares of NYSE:AYI opened at $179.37 on Tuesday. The firm has a fifty day moving average of $165.69 and a 200 day moving average of $162.88. Acuity Brands, Inc. has a 52-week low of $149.30 and a 52-week high of $202.90. The firm has a market capitalization of $5.59 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.72 and a current ratio of 2.34.

Acuity Brands (NYSE:AYI – Get Free Report) last announced its quarterly earnings data on Wednesday, October 4th. The electronics maker reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.24. Acuity Brands had a return on equity of 21.41% and a net margin of 8.75%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned $3.72 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Acuity Brands, Inc. will post 11.67 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a dividend yield of 0.29%. Acuity Brands’s payout ratio is presently 4.83%.

Analyst Ratings Changes

Several research firms have recently weighed in on AYI. SpectralCast reaffirmed a “reiterates” rating on shares of Acuity Brands in a report on Friday, June 30th. StockNews.com cut shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Friday. Robert W. Baird upped their target price on shares of Acuity Brands from $170.00 to $180.00 in a research report on Thursday, October 5th. Finally, Wells Fargo & Company upped their target price on shares of Acuity Brands from $180.00 to $200.00 in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a hold rating and three have given a 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 target price of $186.60.

Get Our Latest Research Report on Acuity Brands

Acuity Brands Profile

(Free Report)

Acuity Brands, Inc provides lighting and building management solutions in North America and internationally. The company operates through two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Sunoptics, eldoLED, nLight, Sensor Switch, IOTA, A-Light, Cyclone, Eureka, Lumniaire LED, Luminis, Dark to Light, RELOC Wiring Solutions, and OPTOTRONIC brands.

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

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