Fifth Third Bancorp Has $3.82 Million Stock Holdings in Acuity, Inc. $AYI

Fifth Third Bancorp grew its holdings in Acuity, Inc. (NYSE:AYI) by 2,192.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,642 shares of the electronics maker’s stock after purchasing an additional 13,047 shares during the quarter. Fifth Third Bancorp’s holdings in Acuity were worth $3,823,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC raised its position in shares of Acuity by 8,338.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,097 shares of the electronics maker’s stock valued at $289,000 after acquiring an additional 1,084 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Acuity by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 76,543 shares of the electronics maker’s stock worth $20,158,000 after purchasing an additional 11,144 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Acuity by 372.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 208 shares of the electronics maker’s stock worth $62,000 after purchasing an additional 164 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Acuity by 1.8% during the second quarter. Brown Advisory Inc. now owns 2,134 shares of the electronics maker’s stock worth $637,000 after purchasing an additional 37 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Acuity during the second quarter worth $762,000. Institutional investors own 98.21% of the company’s stock.

Wall Street Analyst Weigh In

AYI has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Acuity from $315.00 to $390.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Morgan Stanley increased their target price on shares of Acuity from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of Acuity from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. TD Cowen reissued a “buy” rating on shares of Acuity in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Acuity from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Acuity currently has an average rating of “Moderate Buy” and an average price target of $397.17.

Insider Buying and Selling

In related news, Director Maya Leibman purchased 200 shares of the stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $288.83 per share, for a total transaction of $57,766.00. Following the completion of the acquisition, the director owned 400 shares of the company’s stock, valued at approximately $115,532. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Acuity Stock Down 2.0%

Acuity stock opened at $333.45 on Friday. The firm has a market capitalization of $9.98 billion, a PE ratio of 22.11, a P/E/G ratio of 1.83 and a beta of 1.27. The company’s 50-day moving average is $314.25 and its 200-day moving average is $305.85. Acuity, Inc. has a fifty-two week low of $257.04 and a fifty-two week high of $380.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.05 and a quick ratio of 1.47.

Acuity (NYSE:AYI) last posted its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.17 by $0.14. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Acuity had a net margin of 10.25% and a return on equity of 20.26%. Acuity’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $5.12 EPS. Sell-side analysts anticipate that Acuity, Inc. will post 18.28 earnings per share for the current year.

Acuity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 17th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.80 annualized dividend and a yield of 0.2%. Acuity’s payout ratio is presently 5.31%.

Acuity Company Profile

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.