Amundi Sells 6,817 Shares of Acuity, Inc. $AYI

Key Points

• Amundi cut its Acuity stake by 50.1% in the second quarter, selling 6,817 shares and retaining 6,784 shares valued at approximately $2.56 million. Institutional investors collectively own 98.21% of the company.
• Acuity reported quarterly EPS of $5.31, exceeding estimates of $5.17, while revenue reached $1.20 billion and increased 1.6% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $397.17.
• The stock opened at $318.71, below its 50-day average of $338.60, while the company paid a quarterly dividend of $0.20 per share, equivalent to a 0.3% yield.

Amundi decreased its holdings in Acuity, Inc. (NYSE:AYI - Free Report) by 50.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,784 shares of the electronics maker's stock after selling 6,817 shares during the period. Amundi's holdings in Acuity were worth $2,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in Acuity by 8,338.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,097 shares of the electronics maker's stock valued at $289,000 after acquiring an additional 1,084 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Acuity by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 76,543 shares of the electronics maker's stock worth $20,158,000 after acquiring an additional 11,144 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Acuity by 372.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 208 shares of the electronics maker's stock worth $62,000 after acquiring an additional 164 shares in the last quarter. Brown Advisory Inc. lifted its stake 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 last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Acuity during the 2nd quarter worth $762,000. Hedge funds and other institutional investors own 98.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Cowen reaffirmed a "buy" rating on shares of Acuity in a research report on Thursday, June 25th. Wall Street Zen raised shares of Acuity from a "hold" rating to a "buy" rating in a research report on Sunday, August 30th. The Goldman Sachs Group raised their price target on shares of Acuity from $295.00 to $358.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Oppenheimer set a $465.00 price objective on shares of Acuity in a research report on Friday, June 26th. Finally, Morgan Stanley lifted their price objective on shares of Acuity from $400.00 to $410.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Acuity currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.17.

Acuity Trading Down 0.1%

NYSE:AYI opened at $318.71 on Monday. The company has a market capitalization of $9.54 billion, a P/E ratio of 21.13, a PEG ratio of 1.56 and a beta of 1.29. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. Acuity, Inc. has a 12 month low of $257.04 and a 12 month high of $380.17. The firm has a fifty day simple moving average of $338.60 and a 200-day simple moving average of $309.38.

Acuity (NYSE:AYI - Get Free Report) last released its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.14. The firm 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 was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.12 EPS. On average, equities research analysts anticipate 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 issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Acuity's dividend payout ratio is currently 5.31%.

Insider Activity

In related news, CFO Karen Holcom sold 2,000 shares of Acuity stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $329.62, for a total transaction of $659,240.00. Following the completion of the sale, the chief financial officer owned 17,447 shares of the company's stock, valued at $5,750,880.14. The trade was a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Acuity Profile

Acuity, formerly known as Acuity Brands, Inc, is an industrial technology company that develops products and systems for lighting, building management and connected spaces. Its offerings are designed for commercial, institutional, industrial and residential applications, helping customers manage illumination, energy use, occupancy and other aspects of the built environment.

The company's lighting portfolio includes indoor and outdoor fixtures, lighting controls, and related components.

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