Edgestream Partners L.P. Invests $2.28 Million in Acuity, Inc. $AYI

Key Points

• Edgestream Partners purchased 8,127 Acuity shares worth approximately $2.28 million, while other institutional investors also increased their positions. Institutions and hedge funds now own 98.21% of the company.
• Acuity exceeded quarterly earnings expectations, reporting $5.31 in EPS versus the $5.17 consensus estimate and $1.20 billion in revenue, up 1.6% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $397.17, compared with the stock’s recent price of $328.53. Acuity also announced a quarterly dividend of $0.20 per share.

Edgestream Partners L.P. purchased a new stake in Acuity, Inc. (NYSE:AYI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,127 shares of the electronics maker's stock, valued at approximately $2,277,000.

Several other institutional investors and hedge funds have also modified their holdings of AYI. Bull Harbor Capital LLC acquired a new stake in Acuity in the 1st quarter worth about $200,000. Amundi grew its position in shares of Acuity by 228.8% during the 1st quarter. Amundi now owns 13,601 shares of the electronics maker's stock worth $3,811,000 after purchasing an additional 9,464 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Acuity by 5.6% during the first quarter. EverSource Wealth Advisors LLC now owns 996 shares of the electronics maker's stock worth $279,000 after purchasing an additional 53 shares during the period. California State Teachers Retirement System increased its holdings in shares of Acuity by 22.1% during the first quarter. California State Teachers Retirement System now owns 35,507 shares of the electronics maker's stock worth $9,950,000 after purchasing an additional 6,418 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Acuity by 104.4% in the first quarter. Empowered Funds LLC now owns 3,240 shares of the electronics maker's stock valued at $908,000 after buying an additional 1,655 shares in the last quarter. 98.21% of the stock is currently owned by institutional investors and hedge funds.

Acuity Stock Performance

Shares of Acuity stock opened at $328.53 on Monday. The company has a 50 day moving average of $324.01 and a 200-day moving average of $303.84. Acuity, Inc. has a 1-year low of $257.04 and a 1-year 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 company has a market cap of $9.84 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30.

Acuity (NYSE:AYI - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.14. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $5.12 EPS. As a group, equities research analysts forecast that Acuity, Inc. will post 18.44 earnings per share for the current fiscal year.

Acuity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 17th will be issued 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 of this dividend is Friday, July 17th. Acuity's dividend payout ratio (DPR) is currently 5.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on AYI. Robert W. Baird boosted their price target on Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Weiss Ratings upgraded Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. TD Cowen reaffirmed a "buy" rating on shares of Acuity in a report on Thursday, June 25th. Oppenheimer set a $465.00 price objective on Acuity in a report on Friday, June 26th. Finally, The Goldman Sachs Group increased their target price on Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $397.17.

About Acuity

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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