Geode Capital Management LLC Raises Stock Holdings in Acuity, Inc. $AYI

Key Points

• Geode Capital Management increased its stake in Acuity by 3.8% in the fourth quarter, adding 20,859 shares to own 570,088 shares worth about $205.3 million.
• Several other hedge funds also initiated new positions, and institutional investors now own 98.21% of Acuity’s stock, showing heavy institutional interest in the company.
• Acuity reported quarterly EPS of $4.14, slightly ahead of estimates, while analysts currently have a Moderate Buy consensus with an average price target of $369.17.

Geode Capital Management LLC boosted its holdings in shares of Acuity, Inc. (NYSE:AYI - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 570,088 shares of the electronics maker's stock after purchasing an additional 20,859 shares during the quarter. Geode Capital Management LLC owned approximately 1.86% of Acuity worth $205,296,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in Acuity during the fourth quarter worth approximately $25,000. Entrust Financial LLC purchased a new position in Acuity during the fourth quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in Acuity during the fourth quarter worth approximately $36,000. Quarry LP boosted its position in Acuity by 59.2% during the third 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. Finally, Torren Management LLC purchased a new position in Acuity during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 98.21% of the company's stock.

Insider Activity at Acuity

In related news, Director Maya Leibman purchased 200 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $288.83 per share, with a total value of $57,766.00. Following the completion of the acquisition, the director owned 400 shares in the company, valued at $115,532. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Laura O'shaughnessy purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The stock was bought at an average cost of $282.98 per share, with a total value of $282,980.00. Following the acquisition, the director owned 3,111 shares of the company's stock, valued at approximately $880,350.78. The trade was a 47.37% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Acuity Stock Performance

NYSE AYI opened at $312.40 on Wednesday. The company has a market cap of $9.47 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.70 and a beta of 1.31. The stock's 50 day simple moving average is $284.94 and its 200-day simple moving average is $314.15. Acuity, Inc. has a 1-year low of $256.55 and a 1-year high of $380.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.36.

Acuity (NYSE:AYI - Get Free Report) last released its earnings results on Thursday, April 2nd. The electronics maker reported $4.14 earnings per share for the quarter, beating the consensus estimate of $4.11 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.09 billion. Acuity had a return on equity of 20.74% and a net margin of 9.37%.The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.45 earnings per share. As a group, equities research analysts anticipate that Acuity, Inc. will post 18.06 EPS for the current fiscal year.

Acuity Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 17th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, April 17th. Acuity's dividend payout ratio (DPR) is currently 5.87%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AYI shares. Wall Street Zen upgraded Acuity from a "hold" rating to a "buy" rating in a research report on Sunday, April 12th. The Goldman Sachs Group decreased their target price on Acuity from $342.00 to $295.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Weiss Ratings downgraded Acuity from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Robert W. Baird decreased their target price on Acuity from $320.00 to $315.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company decreased their target price on Acuity from $385.00 to $370.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $369.17.

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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