Elevation Point Wealth Partners LLC Makes New Investment in Acuity, Inc. $AYI

Key Points

• Elevation Point Wealth Partners acquired 7,230 shares of Acuity valued at approximately $2.7 million during the second quarter. Institutional investors collectively own 98.21% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $397.17.
• Acuity exceeded quarterly earnings expectations, reporting $5.31 in EPS and $1.20 billion in revenue, while revenue increased 1.6% year over year. The company also pays a quarterly dividend of $0.20 per share.

Elevation Point Wealth Partners LLC acquired a new stake in Acuity, Inc. (NYSE:AYI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,230 shares of the electronics maker's stock, valued at approximately $2,723,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AYI. Brown Advisory Inc. raised its position in shares of Acuity by 1.8% in the second quarter. Brown Advisory Inc. now owns 2,134 shares of the electronics maker's stock valued at $637,000 after buying an additional 37 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Acuity by 1.6% during the third quarter. Quadrant Capital Group LLC now owns 2,488 shares of the electronics maker's stock worth $857,000 after acquiring an additional 38 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Acuity by 0.6% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 6,805 shares of the electronics maker's stock valued at $2,450,000 after acquiring an additional 41 shares in the last quarter. Parallel Advisors LLC grew its stake in Acuity by 1.8% during the 1st quarter. Parallel Advisors LLC now owns 2,338 shares of the electronics maker's stock valued at $655,000 after acquiring an additional 41 shares in the last quarter. Finally, Quarry LP lifted its stake in Acuity by 59.2% in the 3rd quarter. Quarry LP now owns 113 shares of the electronics maker's stock worth $39,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company's stock.

Wall Street Analyst Weigh In

AYI has been the subject of several analyst reports. TD Cowen restated a "buy" rating on shares of Acuity in a report on Thursday, June 25th. Oppenheimer set a $465.00 price target on Acuity in a report on Friday, June 26th. The Goldman Sachs Group boosted their price target on shares of Acuity from $295.00 to $358.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Robert W. Baird upped their price objective on shares of Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Finally, Weiss Ratings raised shares of Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $397.17.

Acuity Price Performance

AYI stock opened at $343.66 on Monday. Acuity, Inc. has a 52-week low of $257.04 and a 52-week high of $380.17. The company has a quick ratio of 1.47, a current ratio of 2.05 and a debt-to-equity ratio of 0.24. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30. The business has a fifty day moving average of $339.88 and a two-hundred day moving average of $307.76.

Acuity (NYSE:AYI - Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 EPS for the quarter, beating 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 return on equity of 20.26% and a net margin of 10.25%.The company's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.12 EPS. As a group, research analysts anticipate that Acuity, Inc. will post 18.49 earnings per share for the current year.

Acuity Announces Dividend

The company also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 17th. Acuity's dividend payout ratio (DPR) is currently 5.31%.

Acuity 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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