J. Safra Sarasin Holding AG Sells 3,483 Shares of Acuity, Inc. $AYI

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Acuity, Inc. by 4.6% during the second quarter, selling 3,483 shares to hold a total of 72,964 shares valued at approximately $21.8 million.
• Several hedge funds have increased their positions in Acuity, indicating strong institutional interest with 98.21% of the company's stock owned by institutional investors.
• Equities research analysts have raised their price targets for Acuity, with a consensus rating of "Moderate Buy" and an average price target of $395.17 following analysts' reports that reflect anticipated growth.

J. Safra Sarasin Holding AG lowered its holdings in Acuity, Inc. (NYSE:AYI - Free Report) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,964 shares of the electronics maker's stock after selling 3,483 shares during the quarter. J. Safra Sarasin Holding AG owned 0.24% of Acuity worth $21,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AYI. Cullen Frost Bankers Inc. grew its position in Acuity by 525.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker's stock worth $33,000 after purchasing an additional 105 shares during the period. UMB Bank n.a. grew its stake in shares of Acuity by 45.3% during the 1st quarter. UMB Bank n.a. now owns 250 shares of the electronics maker's stock valued at $66,000 after purchasing an additional 78 shares during the period. Reyes Financial Architecture Inc. lifted its stake in shares of Acuity by 31.7% in the 1st quarter. Reyes Financial Architecture Inc. now owns 320 shares of the electronics maker's stock worth $84,000 after purchasing an additional 77 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Acuity by 1,789.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 359 shares of the electronics maker's stock worth $95,000 after buying an additional 340 shares during the last quarter. Finally, Signaturefd LLC grew its position in Acuity by 15.0% during the first quarter. Signaturefd LLC now owns 429 shares of the electronics maker's stock valued at $113,000 after buying an additional 56 shares during the period. Institutional investors own 98.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen upped their price objective on Acuity from $330.00 to $390.00 and gave the stock a "buy" rating in a research note on Thursday. Cowen reiterated a "buy" rating on shares of Acuity in a research note on Thursday. Robert W. Baird upped their price objective on Acuity from $335.00 to $360.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Wall Street Zen raised Acuity from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Morgan Stanley upped their price target on Acuity from $365.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $395.17.

Acuity Price Performance

AYI stock opened at $356.09 on Friday. Acuity, Inc. has a 52 week low of $216.81 and a 52 week high of $375.67. The firm has a market capitalization of $10.91 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.02 and a beta of 1.64. The company has a fifty day simple moving average of $327.63 and a two-hundred day simple moving average of $287.76. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.33.

Acuity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 17th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 17th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Acuity's dividend payout ratio is 5.43%.

About Acuity

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.

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