Acuity, Inc. (NYSE:AYI – Get Free Report) SVP Barry Goldman sold 3,800 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $321.48, for a total transaction of $1,221,624.00. Following the sale, the senior vice president owned 6,580 shares of the company’s stock, valued at approximately $2,115,338.40. This trade represents a 36.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Acuity Trading Up 1.4%
NYSE AYI traded up $4.54 during mid-day trading on Tuesday, reaching $323.26. 283,733 shares of the stock were exchanged, compared to its average volume of 394,173. The stock has a market cap of $9.68 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.70 and a quick ratio of 1.28. Acuity, Inc. has a one year low of $257.04 and a one year high of $380.17. The stock has a 50 day simple moving average of $318.03 and a 200-day simple moving average of $310.44.
Acuity (NYSE:AYI – Get Free Report) last issued its quarterly earnings results on Thursday, October 1st. The electronics maker reported $5.77 EPS for the quarter, beating analysts’ consensus estimates of $5.57 by $0.20. Acuity had a net margin of 11.45% and a return on equity of 20.30%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm posted $5.20 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Acuity, Inc. will post 20.02 EPS for the current year.
Acuity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.80 annualized dividend and a yield of 0.2%. Acuity’s dividend payout ratio (DPR) is currently 4.68%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of AYI. BlackRock Inc. bought a new position in Acuity during the 2nd quarter valued at $1,121,983,000. Bank of America Corp DE purchased a new position in Acuity during the second quarter worth about $106,018,000. Alua Capital Management LP purchased a new position in Acuity during the first quarter worth about $63,377,000. Bank of New York Mellon Corp bought a new stake in Acuity in the 2nd quarter worth about $77,212,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Acuity by 87.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 213,801 shares of the electronics maker’s stock worth $59,911,000 after purchasing an additional 100,036 shares in the last quarter. Institutional investors own 98.21% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Acuity in a research note on Tuesday, September 22nd. Oppenheimer reduced their price objective on shares of Acuity from $440.00 to $415.00 and set an “outperform” rating for the company in a research report on Thursday, October 8th. Robert W. Baird lowered their price objective on shares of Acuity from $360.00 to $348.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. William Blair downgraded shares of Acuity from an “outperform” rating to a “market perform” rating in a research report on Monday, September 28th. Finally, Wall Street Zen lowered shares of Acuity from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $374.20.
Check Out Our Latest Stock Analysis on Acuity
About Acuity
Acuity (NYSE: AYI), formerly known as Acuity Brands, is a technology company focused on improving how people experience and manage indoor and outdoor spaces. Its businesses develop lighting, lighting controls, building-management systems and related solutions for commercial, institutional, industrial and residential applications.
The company’s offerings include LED lighting fixtures, connected lighting systems, sensors, controls, building automation technologies and location-aware software.
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