Acuity, Inc. $AYI Shares Bought by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group increased its Acuity stake by 4.3% in the fourth quarter, buying 7,930 more shares and bringing its total to 192,466 shares valued at about $69.3 million.
• Insider buying was also notable, with directors Maya Leibman and Laura O’shaughnessy purchasing shares in April, while insiders collectively own 2.90% of the company.
• Acuity reported better-than-expected quarterly EPS of $4.14 versus estimates of $4.11, though revenue of $1.06 billion came in below forecasts; analysts currently rate the stock a consensus “Moderate Buy” with a $369.17 price target.

Clark Capital Management Group Inc. lifted its position in shares of Acuity, Inc. (NYSE:AYI - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,466 shares of the electronics maker's stock after buying an additional 7,930 shares during the period. Clark Capital Management Group Inc. owned approximately 0.63% of Acuity worth $69,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in AYI. NewEdge Advisors LLC boosted its position in shares of Acuity by 8,338.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,097 shares of the electronics maker's stock worth $289,000 after purchasing an additional 1,084 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Acuity by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 76,543 shares of the electronics maker's stock worth $20,158,000 after purchasing an additional 11,144 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Acuity by 372.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 208 shares of the electronics maker's stock worth $62,000 after purchasing an additional 164 shares during the period. Brown Advisory Inc. boosted its position in shares of Acuity by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 2,134 shares of the electronics maker's stock worth $637,000 after purchasing an additional 37 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Acuity during the 2nd quarter worth approximately $762,000. Institutional investors and hedge funds own 98.21% of the company's stock.

Insider Activity

In other Acuity news, Director Maya Leibman purchased 200 shares of Acuity stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $288.83 per share, with a total value of $57,766.00. Following the completion of the acquisition, the director directly owned 400 shares of the company's stock, valued at approximately $115,532. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura O'shaughnessy purchased 1,000 shares of Acuity stock in a transaction on Wednesday, April 8th. The stock was acquired at an average cost of $282.98 per share, for a total transaction of $282,980.00. Following the acquisition, the director directly owned 3,111 shares of the company's stock, valued at approximately $880,350.78. This represents a 47.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is owned by corporate insiders.

Acuity Trading Up 1.3%

NYSE AYI opened at $306.52 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.36 and a current ratio of 2.07. The firm has a market cap of $9.29 billion, a PE ratio of 22.47, a P/E/G ratio of 1.68 and a beta of 1.31. Acuity, Inc. has a one year low of $257.04 and a one year high of $380.17. The firm's fifty day moving average is $290.60 and its two-hundred day moving average is $310.16.

Acuity (NYSE:AYI - Get Free Report) last posted its quarterly earnings data on Thursday, April 2nd. The electronics maker reported $4.14 EPS for the quarter, beating analysts' consensus estimates of $4.11 by $0.03. Acuity had a net margin of 9.37% and a return on equity of 20.74%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $2.45 earnings per share. Acuity's quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Acuity, Inc. will post 18.06 earnings per share for the current year.

Acuity Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 17th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, April 17th. Acuity's dividend payout ratio is 5.87%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Acuity from $385.00 to $370.00 and set an "overweight" rating for the company in a research report on Tuesday, March 3rd. The Goldman Sachs Group decreased their price target on shares of Acuity from $342.00 to $295.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Wall Street Zen cut shares of Acuity from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings cut shares of Acuity from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird decreased their price target on shares of Acuity from $320.00 to $315.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Acuity currently has a consensus rating of "Moderate Buy" and a consensus price target of $369.17.

Acuity 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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