Wedge Capital Management L L P NC Increases Position in Acuity, Inc. $AYI

Key Points

• Wedge Capital Management increased its Acuity position by 8.8% in the second quarter, holding 42,944 shares worth approximately $16.2 million. Institutional investors and hedge funds collectively own 98.21% of Acuity’s stock.
• Acuity exceeded quarterly expectations, reporting EPS of $5.31 versus the $5.17 consensus and revenue of $1.20 billion, up 1.6% year over year.
• Analysts maintain a generally positive outlook, with Acuity rated “Moderate Buy” and an average price target of $397.17, compared with a recent share price of $356.15. The company also pays a quarterly dividend of $0.20 per share.

Wedge Capital Management L L P NC grew its position in Acuity, Inc. (NYSE:AYI - Free Report) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,944 shares of the electronics maker's stock after purchasing an additional 3,478 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.14% of Acuity worth $16,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its holdings in 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 buying an additional 2,263,925 shares during the last quarter. Durable Capital Partners LP lifted its holdings in Acuity by 9.1% during the 3rd quarter. Durable Capital Partners LP now owns 1,363,619 shares of the electronics maker's stock worth $469,617,000 after buying an additional 113,720 shares during the last quarter. M&T Bank Corp boosted its position in shares of Acuity by 6,496.7% during the 4th quarter. M&T Bank Corp now owns 692,189 shares of the electronics maker's stock worth $249,216,000 after acquiring an additional 681,696 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Acuity by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 635,160 shares of the electronics maker's stock worth $177,970,000 after acquiring an additional 47,880 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Acuity by 10.1% in the 3rd quarter. Boston Partners now owns 633,060 shares of the electronics maker's stock valued at $218,071,000 after acquiring an additional 58,085 shares during the last quarter. Institutional investors and hedge funds own 98.21% of the company's stock.

Acuity Price Performance

Shares of NYSE AYI opened at $356.15 on Wednesday. The stock has a market cap of $10.66 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.92 and a beta of 1.29. Acuity, Inc. has a twelve month low of $257.04 and a twelve month high of $380.17. The stock has a 50 day moving average of $331.24 and a two-hundred day moving average of $305.53. 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 announced its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.17 by $0.14. Acuity had a net margin of 10.25% and a return on equity of 20.26%. 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 firm posted $5.12 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts forecast that Acuity, Inc. will post 18.44 earnings per share for the current year.

Acuity Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Acuity from $295.00 to $358.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Robert W. Baird increased their price target 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. Wall Street Zen raised shares of Acuity from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Morgan Stanley upped their target price on shares of Acuity from $400.00 to $410.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Finally, Oppenheimer set a $465.00 target price on shares of Acuity in a research report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Acuity currently has an average rating of "Moderate Buy" and an average target price 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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