Principal Financial Group Inc. reduced its stake in shares of Acuity Brands Inc (NYSE:AYI) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,652 shares of the electronics maker’s stock after selling 1,916 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Acuity Brands worth $10,903,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in Acuity Brands by 6.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 10,600 shares of the electronics maker’s stock valued at $1,816,000 after purchasing an additional 654 shares during the period. Prudential Financial Inc. lifted its position in Acuity Brands by 2.1% during the third quarter. Prudential Financial Inc. now owns 63,076 shares of the electronics maker’s stock valued at $10,804,000 after purchasing an additional 1,314 shares during the period. Trillium Asset Management LLC lifted its position in Acuity Brands by 1.2% during the third quarter. Trillium Asset Management LLC now owns 72,888 shares of the electronics maker’s stock valued at $12,484,000 after purchasing an additional 867 shares during the period. Forward Management LLC lifted its position in Acuity Brands by 74.3% during the third quarter. Forward Management LLC now owns 1,609 shares of the electronics maker’s stock valued at $276,000 after purchasing an additional 686 shares during the period. Finally, American Century Companies Inc. lifted its position in Acuity Brands by 68.1% during the third quarter. American Century Companies Inc. now owns 779,190 shares of the electronics maker’s stock valued at $133,460,000 after purchasing an additional 315,610 shares during the period.
A number of research analysts recently issued reports on AYI shares. Zacks Investment Research downgraded shares of Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. KeyCorp initiated coverage on shares of Acuity Brands in a research report on Friday, October 13th. They set a “sector weight” rating for the company. Robert W. Baird cut shares of Acuity Brands from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $212.00 to $178.00 in a report on Tuesday, September 19th. BidaskClub cut shares of Acuity Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Wolfe Research cut shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Acuity Brands has an average rating of “Hold” and an average price target of $197.17.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Acuity Brands had a net margin of 9.18% and a return on equity of 20.47%. The company had revenue of $957.60 million during the quarter, compared to analysts’ expectations of $975.05 million. During the same quarter in the previous year, the company earned $2.21 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. equities research analysts expect that Acuity Brands Inc will post 8.66 EPS for the current fiscal year.
In other news, EVP Mark A. Black sold 7,441 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the completion of the sale, the executive vice president now owns 30,649 shares of the company’s stock, valued at $4,944,296.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.
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Acuity Brands Profile
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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