BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Acuity Brands, Inc. (NYSE:AYI) by 17.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,656 shares of the electronics maker’s stock after selling 4,261 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Acuity Brands worth $2,374,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in Acuity Brands by 139.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 27,263 shares of the electronics maker’s stock worth $4,285,000 after buying an additional 15,885 shares during the last quarter. Victory Capital Management Inc. increased its position in Acuity Brands by 396.5% during the third quarter. Victory Capital Management Inc. now owns 66,722 shares of the electronics maker’s stock worth $10,488,000 after buying an additional 53,283 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Acuity Brands during the third quarter worth $905,000. LSV Asset Management increased its position in Acuity Brands by 9,730.1% during the third quarter. LSV Asset Management now owns 334,222 shares of the electronics maker’s stock worth $52,539,000 after buying an additional 330,822 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Acuity Brands by 1.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 129,695 shares of the electronics maker’s stock worth $20,388,000 after buying an additional 2,012 shares during the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.
Several research firms have commented on AYI. Zacks Investment Research downgraded shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Friday. Credit Suisse Group raised Acuity Brands from a “neutral” rating to an “outperform” rating and raised their price target for the company from $128.00 to $148.00 in a research report on Wednesday, March 6th. Oppenheimer lowered their price target on Acuity Brands from $170.00 to $166.00 in a research report on Friday, January 11th. Roth Capital set a $90.00 price target on Acuity Brands and gave the company a “sell” rating in a research report on Friday, January 4th. Finally, Wells Fargo & Co lowered their price target on Acuity Brands from $161.00 to $159.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $151.67.
Shares of NYSE:AYI opened at $130.75 on Friday. The stock has a market capitalization of $5.24 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.41 and a beta of 1.56. Acuity Brands, Inc. has a 52-week low of $103.48 and a 52-week high of $173.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.28 and a current ratio of 1.92.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, January 9th. The electronics maker reported $2.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.30. The company had revenue of $932.60 million for the quarter, compared to the consensus estimate of $920.39 million. Acuity Brands had a return on equity of 20.88% and a net margin of 9.49%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. On average, sell-side analysts predict that Acuity Brands, Inc. will post 8.83 earnings per share for the current year.
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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