BlackRock Inc. purchased a new position in shares of Acuity, Inc. (NYSE:AYI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,978,769 shares of the electronics maker's stock, valued at approximately $1,121,983,000. BlackRock Inc. owned 9.95% of Acuity at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC acquired a new position in shares of Acuity during the 2nd quarter worth $266,000. Deutsche Bank AG bought a new position in shares of Acuity in the 2nd quarter valued at $33,088,000. Perigon Wealth Management LLC acquired a new stake in shares of Acuity during the 2nd quarter valued at $305,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Acuity in the 2nd quarter worth about $31,000. Finally, Persistent Asset Partners Ltd acquired a new position in Acuity in the 2nd quarter worth about $27,000. 98.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently weighed in on AYI shares. Wall Street Zen cut Acuity from a "buy" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group increased their price target on Acuity from $295.00 to $358.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Robert W. Baird upped their target price on Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Weiss Ratings raised shares of Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Finally, TD Cowen reiterated a "buy" rating on shares of Acuity in a research report on Thursday, June 25th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $397.17.
Check Out Our Latest Analysis on Acuity
Acuity Price Performance
Shares of NYSE:AYI opened at $343.66 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. The stock has a market cap of $10.29 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. The stock's fifty day simple moving average is $339.88 and its two-hundred day simple moving average is $307.82. Acuity, Inc. has a 1-year low of $257.04 and a 1-year high of $380.17.
Acuity (NYSE:AYI - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.14. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.18 billion. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.12 earnings per share. As a group, analysts forecast that Acuity, Inc. will post 18.49 EPS for the current fiscal year.
Acuity Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 17th. Acuity's payout ratio is presently 5.31%.
Acuity Profile
(
Free Report)
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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