California State Teachers Retirement System Sells 2,121 Shares of Acuity, Inc. $AYI

California State Teachers Retirement System trimmed its stake in shares of Acuity, Inc. (NYSE:AYI - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,386 shares of the electronics maker's stock after selling 2,121 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Acuity worth $12,575,171 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Acuity in the 2nd quarter valued at $1,121,983,000. Norges Bank acquired a new position in Acuity in the fourth quarter valued at approximately $138,747,000. Bank of America Corp DE purchased a new stake in Acuity in the 2nd quarter valued at approximately $106,018,000. Alua Capital Management LP acquired a new stake in shares of Acuity during the 1st quarter worth about $63,377,000. Finally, Bank of New York Mellon Corp acquired a new stake in Acuity in the second quarter valued at approximately $77,212,000. Institutional investors own 98.21% of the company's stock.

Insider Buying and Selling

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 value 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 approximately $5,750,880.14. This trade represents a 10.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company's stock.

Acuity Trading Down 3.2%

Shares of Acuity stock traded down $9.96 during trading hours on Tuesday, reaching $299.08. 174,179 shares of the company's stock were exchanged, compared to its average volume of 391,546. The company has a fifty day moving average of $337.70 and a 200-day moving average of $309.41. Acuity, Inc. has a 52-week low of $257.04 and a 52-week high of $380.17. 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 firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29.

Acuity (NYSE:AYI - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 EPS for the quarter, topping 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 firm 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 business earned $5.12 earnings per share. Acuity's revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that Acuity, Inc. will post 18.49 EPS for the current fiscal 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 given a dividend of $0.20 per share. The ex-dividend date was Friday, July 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Acuity's dividend payout ratio is 5.31%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AYI shares. Morgan Stanley boosted their target price 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. The Goldman Sachs Group upped their price objective 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 lifted their target price on Acuity from $315.00 to $390.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Wall Street Zen upgraded Acuity from a "hold" rating to a "buy" rating in a report on Sunday, August 30th. Finally, Oppenheimer set a $465.00 price objective on shares of Acuity in a research report on Friday, June 26th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $397.17.

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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