Ieq Capital LLC Invests $11.59 Million in Acuity, Inc. $AYI

Key Points

• Ieq Capital LLC acquired 30,757 Acuity shares worth approximately $11.59 million, representing about 0.10% of the company. Institutional investors and hedge funds collectively own 98.21% of Acuity.
• Acuity exceeded quarterly expectations, reporting $5.31 in earnings per share versus the $5.17 consensus estimate and $1.20 billion in revenue, up 1.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $397.17, compared with the stock’s reported price of $343.66.

Ieq Capital LLC acquired a new position in Acuity, Inc. (NYSE:AYI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 30,757 shares of the electronics maker's stock, valued at approximately $11,585,000. Ieq Capital LLC owned approximately 0.10% of Acuity as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AYI. BlackRock Inc. acquired a new position in Acuity during the second quarter worth about $1,121,983,000. Orion Porfolio Solutions LLC grew its position in shares of Acuity by 50,220.2% in the second quarter. Orion Porfolio Solutions LLC now owns 2,268,433 shares of the electronics maker's stock valued at $676,764,000 after purchasing an additional 2,263,925 shares during the last quarter. Norges Bank acquired a new stake in shares of Acuity in the fourth quarter valued at approximately $138,747,000. Palestra Capital Management LLC acquired a new stake in shares of Acuity in the third quarter valued at approximately $91,539,000. Finally, Alua Capital Management LP acquired a new position in shares of Acuity during the 1st quarter worth approximately $63,377,000. 98.21% of the stock is owned by institutional investors and hedge funds.

Acuity Stock Up 0.6%

Shares of NYSE AYI opened at $343.66 on Friday. The stock has a market capitalization of $10.29 billion, a PE ratio of 22.79, a P/E/G ratio of 1.86 and a beta of 1.29. 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 firm has a fifty day moving average of $339.88 and a 200-day moving average of $307.82. Acuity, Inc. has a 52-week low of $257.04 and a 52-week high of $380.17.

Acuity (NYSE:AYI - Get Free Report) last issued its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.14. Acuity had a return on equity of 20.26% and a net margin of 10.25%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company posted $5.12 EPS. The business's quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts anticipate that Acuity, Inc. will post 18.49 EPS for the current year.

Acuity Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen cut Acuity from a "buy" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group increased their price objective on Acuity from $295.00 to $358.00 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 report on Friday, June 26th. Robert W. Baird boosted their target price on shares of Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Finally, TD Cowen reissued a "buy" rating on shares of Acuity in a research note on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Acuity presently has a consensus rating of "Moderate Buy" and a consensus price target 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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