J. Safra Sarasin Holding AG Trims Position in Acuity, Inc. $AYI

Key Points

• J. Safra Sarasin Holding AG cut its stake in Acuity by 83.8% in the first quarter, leaving it with 4,899 shares worth about $1.37 million.
• Acuity reported a strong quarterly beat, posting $5.31 EPS versus $5.17 expected and $1.20 billion in revenue versus $1.18 billion expected, while revenue rose 1.6% year over year.
• The company declared a quarterly dividend of $0.20 per share and continues to receive a generally positive analyst outlook, with a consensus rating of Moderate Buy and an average price target of $397.17.

J. Safra Sarasin Holding AG decreased its position in Acuity, Inc. (NYSE:AYI - Free Report) by 83.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,899 shares of the electronics maker's stock after selling 25,266 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Acuity were worth $1,371,000 at the end of the most recent quarter.

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

Acuity Trading Up 0.8%

Acuity stock opened at $327.84 on Wednesday. Acuity, Inc. has a 12-month low of $257.04 and a 12-month high of $380.17. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.78 and a beta of 1.27. The firm has a 50 day moving average of $311.78 and a 200 day moving average of $306.16. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24.

Acuity (NYSE:AYI - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share 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 the consensus estimate of $1.18 billion. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.12 earnings per share. As a group, research analysts predict that Acuity, Inc. will post 18.28 earnings per share for the current year.

Acuity Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on AYI shares. TD Cowen reaffirmed a "buy" rating on shares of Acuity in a report on Thursday, June 25th. Oppenheimer set a $465.00 price target on shares of Acuity in a research note on Friday, June 26th. Weiss Ratings raised shares of Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Wall Street Zen upgraded Acuity from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Finally, Morgan Stanley raised their target price on Acuity from $400.00 to $410.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.17.

Insider Buying and Selling at Acuity

In other news, Director Maya Leibman bought 200 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average price of $288.83 per share, with a total value of $57,766.00. Following the acquisition, the director owned 400 shares of the company's stock, valued at approximately $115,532. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.90% of the company's stock.

About Acuity

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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