Corebridge Financial Inc. lowered its stake in Acuity Brands, Inc. (NYSE:AYI - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,585 shares of the electronics maker's stock after selling 1,796 shares during the period. Corebridge Financial Inc. owned 0.11% of Acuity Brands worth $10,103,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in Acuity Brands during the 4th quarter worth approximately $29,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Acuity Brands in the fourth quarter worth $29,000. Westside Investment Management Inc. purchased a new position in shares of Acuity Brands during the third quarter worth $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Acuity Brands during the fourth quarter valued at $40,000. Finally, UMB Bank n.a. boosted its holdings in Acuity Brands by 63.8% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the electronics maker's stock valued at $50,000 after purchasing an additional 67 shares during the last quarter. 98.21% of the stock is currently owned by institutional investors and hedge funds.
Acuity Brands Price Performance
Acuity Brands stock traded up $1.85 during trading on Monday, reaching $263.82. The company had a trading volume of 520,456 shares, compared to its average volume of 278,448. The firm has a market capitalization of $8.17 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The firm's 50-day simple moving average is $300.54 and its 200 day simple moving average is $304.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.38 and a current ratio of 2.98. Acuity Brands, Inc. has a 1-year low of $217.64 and a 1-year high of $345.30.
Acuity Brands (NYSE:AYI - Get Free Report) last announced its earnings results on Wednesday, January 8th. The electronics maker reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.10. Acuity Brands had a net margin of 11.11% and a return on equity of 19.98%. The business had revenue of $951.60 million for the quarter, compared to analyst estimates of $955.60 million. During the same quarter last year, the business earned $3.72 earnings per share. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Acuity Brands, Inc. will post 15.86 earnings per share for the current fiscal year.
Acuity Brands Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.26%. Acuity Brands's payout ratio is currently 5.01%.
Analyst Ratings Changes
A number of research firms have weighed in on AYI. Oppenheimer lifted their price objective on Acuity Brands from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Thursday, January 9th. Morgan Stanley raised Acuity Brands from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $304.00 to $370.00 in a report on Tuesday, January 14th. Robert W. Baird dropped their price objective on shares of Acuity Brands from $340.00 to $310.00 and set a "neutral" rating on the stock in a research note on Thursday. William Blair upgraded shares of Acuity Brands from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price objective on shares of Acuity Brands from $336.00 to $290.00 and set an "equal weight" rating for the company in a report on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $330.60.
View Our Latest Stock Report on Acuity Brands
About Acuity Brands
(
Free Report)
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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