Bank of America Corp DE Has $79.43 Million Stock Position in Acuity, Inc. $AYI

Key Points

• Bank of America increased its Acuity stake by 58.8% in the first quarter, acquiring 104,990 additional shares and bringing its total position to 283,456 shares valued at approximately $79.43 million.
• Acuity reported a quarterly earnings beat, with EPS of $5.31 versus the $5.17 consensus and revenue of $1.20 billion, up 1.6% year over year. Analysts project full-year EPS of $18.44.
• Acuity’s shares opened at $360.93, while analysts maintain a “Moderate Buy” consensus with an average price target of $397.17; institutional investors collectively own 98.21% of the stock.

Bank of America Corp DE grew its holdings in shares of Acuity, Inc. (NYSE:AYI - Free Report) by 58.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,456 shares of the electronics maker's stock after purchasing an additional 104,990 shares during the quarter. Bank of America Corp DE owned about 0.93% of Acuity worth $79,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AYI. Elyxium Wealth LLC acquired a new stake in shares of Acuity in the fourth quarter worth about $25,000. Miller Capital Partners Inc. bought a new stake in Acuity during the fourth quarter worth approximately $27,000. Entrust Financial LLC acquired a new position in Acuity during the fourth quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Acuity in the fourth quarter valued at approximately $36,000. Finally, Torren Management LLC bought a new position in shares of Acuity in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.21% of the company's stock.

Acuity Stock Performance

Acuity stock opened at $360.93 on Monday. The firm has a market capitalization of $10.81 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.95 and a beta of 1.30. The stock has a fifty day moving average price of $329.48 and a two-hundred day moving average price of $304.92. Acuity, Inc. has a 52-week low of $257.04 and a 52-week high of $380.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.05 and a quick ratio of 1.47.

Acuity (NYSE:AYI - Get Free Report) last issued its earnings results on Thursday, June 25th. The electronics maker reported $5.31 EPS for the quarter, beating the consensus estimate of $5.17 by $0.14. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company earned $5.12 EPS. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that Acuity, Inc. will post 18.44 EPS for the current fiscal year.

Acuity Dividend Announcement

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

Wall Street Analyst Weigh In

AYI has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on shares of Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Wall Street Zen raised Acuity from a "hold" rating to a "buy" rating in a research report on Sunday, June 21st. Oppenheimer set a $465.00 price objective on Acuity in a research report on Friday, June 26th. Weiss Ratings raised Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Finally, Morgan Stanley increased their target price on shares of Acuity from $400.00 to $410.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $397.17.

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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