AQR Capital Management LLC Decreases Stake in Acuity Brands Inc (NYSE:AYI)

AQR Capital Management LLC reduced its stake in shares of Acuity Brands Inc (NYSE:AYI) by 68.6% during the first quarter, Holdings Channel reports. The institutional investor owned 26,212 shares of the electronics maker’s stock after selling 57,249 shares during the period. AQR Capital Management LLC’s holdings in Acuity Brands were worth $5,347,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Integrated Investment Consultants LLC boosted its position in shares of Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock valued at $114,000 after buying an additional 205 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock valued at $125,000 after buying an additional 44 shares in the last quarter. Capital Analysts LLC boosted its position in shares of Acuity Brands by 3.8% in the first quarter. Capital Analysts LLC now owns 680 shares of the electronics maker’s stock valued at $139,000 after buying an additional 25 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Acuity Brands by 204.1% in the first quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock valued at $152,000 after buying an additional 500 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Acuity Brands by 3.3% in the first quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock valued at $173,000 after buying an additional 27 shares in the last quarter.

Shares of Acuity Brands Inc (NYSE:AYI) opened at 204.70 on Monday. The firm has a market capitalization of $8.82 billion, a PE ratio of 28.55 and a beta of 1.42. Acuity Brands Inc has a 52 week low of $157.33 and a 52 week high of $280.89. The company has a 50-day moving average of $174.08 and a 200-day moving average of $198.22.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.12. The firm had revenue of $891.60 million for the quarter, compared to analysts’ expectations of $878.66 million. Acuity Brands had a return on equity of 19.89% and a net margin of 9.04%. Acuity Brands’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.06 EPS. On average, equities analysts forecast that Acuity Brands Inc will post $8.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th will be paid a $0.13 dividend. The ex-dividend date is Friday, July 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.25%. Acuity Brands’s dividend payout ratio is currently 7.24%.

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Several equities analysts have issued reports on the stock. Canaccord Genuity reissued a “buy” rating on shares of Acuity Brands in a research note on Tuesday, March 28th. Zacks Investment Research raised shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $196.00 price target on the stock in a research note on Thursday, June 22nd. Robert W. Baird reaffirmed an “outperform” rating and set a $206.00 price target (down from $210.00) on shares of Acuity Brands in a research note on Monday, June 19th. Deutsche Bank AG upped their price target on shares of Acuity Brands from $215.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Finally, BidaskClub raised shares of Acuity Brands from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $219.00.

In related news, Director Peter C. Browning sold 970 shares of Acuity Brands stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $200.05, for a total value of $194,048.50. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $200,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

About Acuity Brands

Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.

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

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