10,205 Acuity, Inc. $AYI Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its Acuity stake by 794.2% in the third quarter, purchasing 10,205 additional shares for a total of 11,490 shares valued at $3.56 million. Institutional investors collectively own 98.21% of the company.
• Acuity exceeded quarterly earnings expectations, reporting $5.77 EPS versus the $5.57 consensus estimate, while revenue rose 2.9% year over year to $1.24 billion. The company also announced a $0.20 quarterly dividend, yielding about 0.3%.
• Analyst sentiment remains mixed, with four Buy ratings and five Holds producing a consensus Hold rating and an average price target of $374.20. CFO Karen Holcom separately sold 2,000 shares under a pre-arranged trading plan.

Crossmark Global Holdings Inc. grew its holdings in Acuity, Inc. (NYSE:AYI - Free Report) by 794.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,490 shares of the electronics maker's stock after purchasing an additional 10,205 shares during the period. Crossmark Global Holdings Inc.'s holdings in Acuity were worth $3,560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Persistent Asset Partners Ltd bought a new stake in shares of Acuity in the second quarter worth $27,000. Danske Bank A S bought a new position in Acuity during the 2nd quarter worth $30,000. Transamerica Financial Advisors LLC bought a new position in Acuity during the 2nd quarter worth $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Acuity during the 2nd quarter worth $31,000. Finally, Elevation Wealth Partners LLC lifted its holdings in Acuity by 110.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 103 shares of the electronics maker's stock worth $39,000 after buying an additional 54 shares during the period. 98.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Karen Holcom sold 2,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $329.62, for a total value of $659,240.00. Following the transaction, the chief financial officer owned 17,447 shares of the company's stock, valued at $5,750,880.14. This represents a 10.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Acuity Stock Up 0.4%

Acuity stock opened at $318.60 on Friday. The firm has a 50 day simple moving average of $317.53 and a 200 day simple moving average of $315.03. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 0.17. Acuity, Inc. has a 1-year low of $257.04 and a 1-year high of $380.17. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.58 and a beta of 1.30.

Acuity (NYSE:AYI - Get Free Report) last posted its earnings results on Thursday, October 1st. The electronics maker reported $5.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.57 by $0.20. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Acuity had a return on equity of 20.30% and a net margin of 11.45%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.20 earnings per share. On average, analysts predict that Acuity, Inc. will post 20.02 earnings per share for the current year.

Acuity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 16th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 16th. Acuity's dividend payout ratio (DPR) is currently 4.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AYI shares. Morgan Stanley lowered their price objective on Acuity from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Tuesday. Wall Street Zen lowered shares of Acuity from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. The Goldman Sachs Group boosted their price target on shares of Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Robert W. Baird reduced their price objective on shares of Acuity from $360.00 to $348.00 and set a "neutral" rating on the stock in a research note on Friday, October 2nd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Acuity in a research report on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $374.20.

Acuity Profile

Acuity NYSE: AYI, formerly known as Acuity Brands, is a technology company focused on improving how people experience and manage indoor and outdoor spaces. Its businesses develop lighting, lighting controls, building-management systems and related solutions for commercial, institutional, industrial and residential applications.

The company's offerings include LED lighting fixtures, connected lighting systems, sensors, controls, building automation technologies and location-aware software.

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