Copeland Capital Management LLC Acquires 13,145 Shares of Acuity, Inc. $AYI

Key Points

• Copeland Capital Management increased its Acuity position by 21.6% in the third quarter, buying 13,145 shares to reach 73,947 shares valued at approximately $22.9 million. Institutional investors and hedge funds collectively own 98.21% of Acuity.
• Acuity reported quarterly adjusted earnings of $5.77 per share, exceeding estimates of $5.57, while revenue reached $1.24 billion, up 2.9% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 dividend and a 0.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $380.20.

Copeland Capital Management LLC lifted its holdings in Acuity, Inc. (NYSE:AYI - Free Report) by 21.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,947 shares of the electronics maker's stock after purchasing an additional 13,145 shares during the quarter. Copeland Capital Management LLC owned 0.25% of Acuity worth $22,910,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Acuity in the second quarter valued at approximately $1,121,983,000. Dimensional Fund Advisors LP lifted its position in Acuity by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 635,160 shares of the electronics maker's stock worth $177,970,000 after purchasing an additional 47,880 shares during the period. Bank of America Corp DE acquired a new stake in Acuity in the second quarter worth approximately $106,018,000. First Trust Advisors LP boosted its stake in Acuity by 32.2% during the 1st quarter. First Trust Advisors LP now owns 378,006 shares of the electronics maker's stock valued at $105,925,000 after purchasing an additional 92,094 shares in the last quarter. Finally, 140 Summer Partners LP boosted its stake in Acuity by 375.5% during the 4th quarter. 140 Summer Partners LP now owns 225,860 shares of the electronics maker's stock valued at $81,319,000 after purchasing an additional 178,360 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Acuity

In related news, CFO Karen Holcom sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were 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 directly owned 17,447 shares in the company, valued at approximately $5,750,880.14. This trade represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by corporate insiders.

Acuity Trading Up 1.7%

Shares of NYSE AYI opened at $301.27 on Wednesday. Acuity, Inc. has a 12 month low of $257.04 and a 12 month high of $380.17. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $325.32 and a 200-day simple moving average of $313.29.

Acuity (NYSE:AYI - Get Free Report) last announced its earnings results on Thursday, October 1st. The electronics maker reported $5.77 EPS for the quarter, topping the consensus estimate of $5.57 by $0.20. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. Acuity had a net margin of 11.45% and a return on equity of 20.30%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company posted $5.20 earnings per share. Sell-side analysts predict that Acuity, Inc. will post 19.99 EPS for the current year.

Acuity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 16th will be issued a $0.20 dividend. The ex-dividend date is Friday, October 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Acuity's dividend payout ratio is currently 4.68%.

Analyst Upgrades and Downgrades

AYI has been the topic of several research analyst reports. Robert W. Baird lowered their price target on Acuity from $360.00 to $348.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Oppenheimer cut their price objective on Acuity from $440.00 to $415.00 and set an "outperform" rating for the company in a report on Thursday, October 8th. The Goldman Sachs Group raised their target price on Acuity from $295.00 to $358.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Wall Street Zen lowered Acuity from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Finally, TD Cowen reaffirmed a "buy" rating on shares of Acuity in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Acuity currently has a consensus rating of "Hold" and a consensus price target of $380.20.

Acuity Profile

Acuity NYSE: AYI is a technology company that provides lighting, lighting controls and building-management solutions for commercial, institutional, industrial and residential environments. Its products are designed to improve illumination, energy efficiency, automation and the overall performance of indoor and outdoor spaces.

The company offers a broad portfolio of lighting fixtures, controls, sensors and connected-building technologies. Its brands and product lines have included Lithonia Lighting, Holophane, Peerless, SensorSwitch, Distech Controls and Atrius.

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