11,511 Shares in Acuity, Inc. $AYI Purchased by Evolve Private Wealth LLC

Key Points

• Evolve Private Wealth LLC bought 11,511 shares of Acuity worth approximately $4.34 million in the second quarter, while institutional ownership reached 98.21%.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $397.17; several firms recently raised their targets despite neutral ratings from Robert W. Baird and Goldman Sachs.
• Acuity exceeded quarterly earnings and revenue expectations, reporting $5.31 in EPS and $1.20 billion in revenue. The company also pays a quarterly dividend of $0.20 per share, equivalent to a 0.2% yield.

Evolve Private Wealth LLC acquired a new position in shares of Acuity, Inc. (NYSE:AYI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,511 shares of the electronics maker's stock, valued at approximately $4,336,000.

A number of other hedge funds have also made changes to their positions in the stock. Landscape Capital Management L.L.C. acquired a new stake in shares of Acuity during the second quarter worth approximately $1,479,000. EP Wealth Advisors LLC acquired a new stake in shares of Acuity during the 2nd quarter valued at $611,000. Ieq Capital LLC purchased a new position in shares of Acuity during the 2nd quarter valued at $11,585,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Acuity in the second quarter worth $42,000. Finally, Allworth Financial LP acquired a new position in shares of Acuity in the second quarter worth $696,000. 98.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird upped their target price on Acuity from $315.00 to $390.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. The Goldman Sachs Group upped their price objective on shares of Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. TD Cowen reaffirmed a "buy" rating on shares of Acuity in a research report on Thursday, June 25th. Oppenheimer set a $465.00 price target on Acuity in a research report on Friday, June 26th. Finally, Weiss Ratings raised Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Acuity presently has a consensus rating of "Moderate Buy" and an average target price of $397.17.

Acuity Stock Up 0.6%

Shares of AYI opened at $343.66 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 2.05. The company has a 50-day simple moving average of $339.88 and a 200-day simple moving average of $307.82. Acuity, Inc. has a 52 week low of $257.04 and a 52 week high of $380.17. The firm has a market capitalization of $10.29 billion, a P/E ratio of 22.79, a P/E/G ratio of 1.86 and a beta of 1.29.

Acuity (NYSE:AYI - Get Free Report) last released its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.17 by $0.14. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. Acuity had a return on equity of 20.26% and a net margin of 10.25%.The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $5.12 earnings per share. On average, equities research analysts expect that Acuity, Inc. will post 18.49 earnings per share for the current year.

Acuity Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were given a dividend of $0.20 per share. The ex-dividend date was Friday, July 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Acuity's payout ratio is currently 5.31%.

Acuity Company Profile

Acuity Brands, Inc NYSE: AYI is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company's core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands' portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.

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