Fmr LLC cut its holdings in Acuity Brands, Inc. (NYSE:AYI) by 17.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,985,397 shares of the electronics maker’s stock after selling 411,648 shares during the period. Fmr LLC’s holdings in Acuity Brands were worth $312,104,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Acuity Brands by 40.7% during the second quarter. Bank of New York Mellon Corp now owns 522,921 shares of the electronics maker’s stock valued at $60,591,000 after acquiring an additional 151,295 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in Acuity Brands by 45.3% during the second quarter. Tocqueville Asset Management L.P. now owns 63,320 shares of the electronics maker’s stock valued at $7,337,000 after acquiring an additional 19,755 shares during the period. Guinness Asset Management Ltd boosted its holdings in Acuity Brands by 50.0% during the second quarter. Guinness Asset Management Ltd now owns 4,200 shares of the electronics maker’s stock valued at $487,000 after acquiring an additional 1,400 shares during the period. Beacon Investment Advisory Services Inc. bought a new stake in Acuity Brands during the second quarter valued at about $361,000. Finally, Securian Asset Management Inc boosted its holdings in Acuity Brands by 21.9% during the second quarter. Securian Asset Management Inc now owns 5,096 shares of the electronics maker’s stock valued at $590,000 after acquiring an additional 914 shares during the period.
AYI has been the subject of a number of recent analyst reports. Robert W. Baird set a $175.00 price target on shares of Acuity Brands and gave the company a “buy” rating in a report on Thursday, October 4th. Wells Fargo & Co upgraded shares of Acuity Brands from a “market perform” rating to an “outperform” rating and upped their price target for the company from $140.00 to $187.00 in a report on Thursday, September 20th. Credit Suisse Group initiated coverage on shares of Acuity Brands in a report on Friday, October 12th. They set a “neutral” rating and a $135.00 price target for the company. ValuEngine upgraded shares of Acuity Brands from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 28th. Finally, Cowen set a $180.00 price target on shares of Acuity Brands and gave the company a “buy” rating in a report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Acuity Brands presently has a consensus rating of “Hold” and a consensus target price of $150.89.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, October 3rd. The electronics maker reported $2.68 EPS for the quarter, beating the Zacks’ consensus estimate of $2.56 by $0.12. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. Acuity Brands had a net margin of 9.50% and a return on equity of 20.30%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. Equities analysts predict that Acuity Brands, Inc. will post 8.83 EPS for the current year.
About Acuity Brands
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 controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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