Elevation Point Wealth Partners LLC Invests $2.15 Million in Acuity, Inc. $AYI

Key Points

• Elevation Point Wealth Partners opened a new position in Acuity, buying 7,668 shares worth about $2.15 million in the first quarter.
• Acuity reported better-than-expected fiscal Q3 results, posting EPS of $5.31 versus estimates of $5.17 and revenue of $1.20 billion versus $1.18 billion expected.
• The company also announced a quarterly dividend of $0.20 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $397.17.

Elevation Point Wealth Partners LLC bought a new stake in Acuity, Inc. (NYSE:AYI - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 7,668 shares of the electronics maker's stock, valued at approximately $2,149,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in Acuity in the fourth quarter valued at approximately $25,000. Entrust Financial LLC acquired a new position in shares of Acuity during the fourth quarter worth approximately $27,000. Miller Capital Partners Inc. acquired a new stake in Acuity in the 4th quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in Acuity during the 4th quarter valued at $36,000. Finally, Torren Management LLC bought a new stake in Acuity during the 4th quarter valued at $39,000. 98.21% of the stock is owned by institutional investors.

Acuity Trading Up 0.1%

NYSE:AYI opened at $359.35 on Monday. Acuity, Inc. has a 12 month low of $257.04 and a 12 month 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's 50 day moving average is $305.36 and its 200 day moving average is $307.55. The stock has a market capitalization of $10.76 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27.

Acuity (NYSE:AYI - Get Free Report) last released its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.17 by $0.14. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. Acuity had a return on equity of 20.26% and a net margin of 10.25%.The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business posted $5.12 earnings per share. Sell-side analysts expect that Acuity, Inc. will post 18.28 earnings per share for the current year.

Acuity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.80 annualized dividend and a yield of 0.2%. Acuity's dividend payout ratio (DPR) is 5.31%.

Insider Transactions at Acuity

In other Acuity news, Director Laura O'shaughnessy bought 1,000 shares of Acuity stock in a transaction dated Wednesday, April 8th. The stock was purchased at an average price of $282.98 per share, for a total transaction of $282,980.00. Following the completion of the purchase, the director directly owned 3,111 shares of the company's stock, valued at approximately $880,350.78. This trade represents a 47.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maya Leibman purchased 200 shares of the stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $288.83 per share, for a total transaction of $57,766.00. Following the transaction, the director owned 400 shares of the company's stock, valued at approximately $115,532. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Acuity from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Morgan Stanley raised their price target on shares of Acuity from $400.00 to $410.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. TD Cowen reiterated a "buy" rating on shares of Acuity in a research note on Thursday, June 25th. The Goldman Sachs Group boosted their price objective on Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Finally, Oppenheimer set a $465.00 target price on Acuity in a report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Acuity has a consensus rating of "Moderate Buy" and a consensus target price of $397.17.

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.

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