iA Global Asset Management Inc. Has $1.06 Million Position in Acuity Brands, Inc. (NYSE:AYI)

iA Global Asset Management Inc. boosted its holdings in shares of Acuity Brands, Inc. (NYSE:AYI) by 173.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,387 shares of the electronics maker’s stock after acquiring an additional 2,785 shares during the period. iA Global Asset Management Inc.’s holdings in Acuity Brands were worth $1,059,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new stake in shares of Acuity Brands during the first quarter worth $27,000. EdgeRock Capital LLC bought a new stake in shares of Acuity Brands in the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. raised its position in shares of Acuity Brands by 5,666.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 170 shares during the period. Assetmark Inc. boosted its stake in Acuity Brands by 900.0% during the 4th quarter. Assetmark Inc. now owns 250 shares of the electronics maker’s stock worth $51,000 after acquiring an additional 225 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Acuity Brands by 44.4% during the first quarter. Venturi Wealth Management LLC now owns 192 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 59 shares during the period. Institutional investors own 98.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Acuity Brands from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $295.00 to $260.00 in a research report on Friday, June 28th. StockNews.com downgraded Acuity Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird decreased their target price on Acuity Brands from $286.00 to $280.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $279.00.

Acuity Brands Stock Performance

AYI opened at $254.70 on Friday. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.68 and a beta of 1.41. The business’s 50-day moving average price is $242.96 and its two-hundred day moving average price is $251.50. Acuity Brands, Inc. has a 1 year low of $156.49 and a 1 year high of $272.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.77 and a quick ratio of 2.15.

Acuity Brands (NYSE:AYI) last announced its earnings results on Thursday, June 27th. The electronics maker reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.33. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The business had revenue of $968.10 million for the quarter, compared to analyst estimates of $996.52 million. During the same quarter last year, the firm earned $3.50 EPS. Acuity Brands’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that Acuity Brands, Inc. will post 14.26 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Thursday, July 18th. Acuity Brands’s dividend payout ratio is presently 4.88%.

Acuity Brands Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.