Bank of New York Mellon Corp Buys Shares of 204,992 Acuity, Inc. $AYI

Key Points

• Bank of New York Mellon acquired 204,992 Acuity shares worth approximately $77.2 million, giving it a 0.68% stake. Institutional investors collectively own 98.21% of the company.
• Acuity exceeded quarterly expectations, reporting $5.31 in EPS and $1.20 billion in revenue, with revenue up 1.6% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $397.17, while Acuity’s quarterly dividend remains $0.20 per share, or a 0.2% annualized yield.

Bank of New York Mellon Corp purchased a new stake in shares of Acuity, Inc. (NYSE:AYI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 204,992 shares of the electronics maker's stock, valued at approximately $77,212,000. Bank of New York Mellon Corp owned 0.68% of Acuity at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Acuity by 8,338.5% during the first quarter. NewEdge Advisors LLC now owns 1,097 shares of the electronics maker's stock valued at $289,000 after buying an additional 1,084 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Acuity by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 76,543 shares of the electronics maker's stock valued at $20,158,000 after purchasing an additional 11,144 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Acuity by 372.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 208 shares of the electronics maker's stock valued at $62,000 after purchasing an additional 164 shares during the period. Brown Advisory Inc. grew its holdings in Acuity by 1.8% during the second quarter. Brown Advisory Inc. now owns 2,134 shares of the electronics maker's stock valued at $637,000 after purchasing an additional 37 shares during the period. Finally, Jump Financial LLC purchased a new stake in Acuity in the second quarter worth about $762,000. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer set a $465.00 price objective on Acuity in a research report on Friday, June 26th. The Goldman Sachs Group increased their target price on shares of Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Wall Street Zen cut shares of Acuity from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings upgraded shares of Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Finally, Robert W. Baird lifted their price target on shares of Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $397.17.

Acuity Stock Performance

NYSE:AYI opened at $340.16 on Wednesday. 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 stock has a 50-day moving average price of $341.23 and a 200 day moving average price of $308.07. The stock has a market capitalization of $10.18 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.82 and a beta of 1.29.

Acuity (NYSE:AYI - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.17 by $0.14. Acuity had a return on equity of 20.26% and a net margin of 10.25%.The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the previous year, the firm earned $5.12 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Acuity, Inc. will post 18.49 EPS for the current fiscal year.

Acuity Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were given a $0.20 dividend. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source