Renaissance Technologies LLC Has $544,000 Position in Acuity, Inc. $AYI

Key Points

• Renaissance Technologies cut its Acuity position by 78.7% in the first quarter, selling 7,160 shares and retaining 1,940 shares valued at approximately $544,000. Institutional investors collectively own 98.21% of the company.
• 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 “Moderate Buy” consensus with an average price target of $397.17, compared with the stock’s opening price of $360.59; recent targets range from $358 to $465.

Renaissance Technologies LLC cut its holdings in Acuity, Inc. (NYSE:AYI - Free Report) by 78.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,940 shares of the electronics maker's stock after selling 7,160 shares during the quarter. Renaissance Technologies LLC's holdings in Acuity were worth $544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Elyxium Wealth LLC bought a new position in shares of Acuity in the 4th quarter worth $25,000. Miller Capital Partners Inc. bought a new stake in Acuity in the fourth quarter valued at about $27,000. Entrust Financial LLC acquired a new position in Acuity in the fourth quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Acuity in the fourth quarter valued at about $36,000. Finally, Torren Management LLC bought a new position in Acuity during the fourth quarter worth about $39,000. Institutional investors own 98.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AYI shares. Robert W. Baird upped their price target on Acuity from $315.00 to $390.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. TD Cowen reissued a "buy" rating on shares of Acuity in a research note on Thursday, June 25th. Oppenheimer set a $465.00 price objective on shares of Acuity in a report on Friday, June 26th. The Goldman Sachs Group increased their target price on shares of Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Finally, Morgan Stanley boosted their price target on shares of Acuity from $400.00 to $410.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $397.17.

Acuity Price Performance

NYSE AYI opened at $360.59 on Tuesday. The business has a 50 day simple moving average of $335.59 and a 200 day simple moving average of $306.84. Acuity, Inc. has a 52-week low of $257.04 and a 52-week high of $380.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 2.05. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.94 and a beta of 1.30.

Acuity (NYSE:AYI - Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.17 by $0.14. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.12 earnings per share. Analysts anticipate that Acuity, Inc. will post 18.44 earnings per share for the current fiscal year.

Acuity Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 17th. Acuity's dividend payout ratio (DPR) is presently 5.31%.

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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