Swedbank AB Lowers Stock Position in Acuity, Inc. $AYI

Key Points

• Swedbank AB cut its Acuity stake by 20% in the fourth quarter, selling 9,640 shares and ending with 38,637 shares valued at about $13.9 million.
• Acuity’s stock opened at $293.64, with a market cap of $8.9 billion, and it sits well below its 52-week high of $380.17 but above its low of $253.03.
• The company paid a quarterly dividend of $0.20 per share, while recent analyst updates were mixed, leaving Acuity with a consensus rating of Moderate Buy and an average target price of $369.17.

Swedbank AB reduced its stake in Acuity, Inc. (NYSE:AYI - Free Report) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,637 shares of the electronics maker's stock after selling 9,640 shares during the quarter. Swedbank AB owned about 0.13% of Acuity worth $13,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its position in Acuity by 98.4% during the third quarter. Millennium Management LLC now owns 571,017 shares of the electronics maker's stock valued at $196,653,000 after acquiring an additional 283,203 shares during the last quarter. Vest Financial LLC grew its position in Acuity by 121.3% during the third quarter. Vest Financial LLC now owns 9,312 shares of the electronics maker's stock valued at $3,207,000 after acquiring an additional 5,105 shares during the last quarter. ASR Vermogensbeheer N.V. grew its position in Acuity by 6.9% during the third quarter. ASR Vermogensbeheer N.V. now owns 99,560 shares of the electronics maker's stock valued at $34,287,000 after acquiring an additional 6,452 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Acuity by 9.0% in the third quarter. Envestnet Asset Management Inc. now owns 96,784 shares of the electronics maker's stock worth $33,332,000 after purchasing an additional 7,973 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Acuity by 7.8% in the third quarter. Allianz Asset Management GmbH now owns 215,809 shares of the electronics maker's stock worth $74,322,000 after purchasing an additional 15,611 shares during the last quarter. 98.21% of the stock is owned by hedge funds and other institutional investors.

Acuity Stock Performance

Shares of AYI stock opened at $293.64 on Friday. The stock has a fifty day moving average of $280.91 and a 200 day moving average of $322.97. Acuity, Inc. has a 52 week low of $253.03 and a 52 week high of $380.17. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.64 and a beta of 1.32. The company has a quick ratio of 1.36, a current ratio of 2.07 and a debt-to-equity ratio of 0.25.

Acuity Dividend Announcement

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Acuity news, Director Maya Leibman purchased 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 completion of the purchase, the director directly owned 400 shares of the company's stock, valued at $115,532. The trade was a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laura O'shaughnessy purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The stock was acquired at an average cost of $282.98 per share, with a total value of $282,980.00. Following the purchase, the director directly owned 3,111 shares of the company's stock, valued at $880,350.78. This trade represents a 47.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.90% of the company's stock.

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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