Hsbc Holdings PLC reduced its stake in Acuity, Inc. (NYSE:AYI – Free Report) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,749 shares of the electronics maker’s stock after selling 3,020 shares during the period. Hsbc Holdings PLC’s holdings in Acuity were worth $2,447,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in AYI. Orion Porfolio Solutions LLC lifted its stake in shares of Acuity by 50,220.2% during the second quarter. Orion Porfolio Solutions LLC now owns 2,268,433 shares of the electronics maker’s stock worth $676,764,000 after purchasing an additional 2,263,925 shares in the last quarter. M&T Bank Corp grew its stake in shares of Acuity by 6,496.7% in the fourth quarter. M&T Bank Corp now owns 692,189 shares of the electronics maker’s stock valued at $249,216,000 after buying an additional 681,696 shares in the last quarter. Norges Bank purchased a new stake in shares of Acuity during the 4th quarter valued at about $138,747,000. Palestra Capital Management LLC acquired a new position in Acuity during the 3rd quarter worth approximately $91,539,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Acuity during the 4th quarter worth approximately $78,249,000. 98.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Acuity from $295.00 to $358.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Robert W. Baird boosted their target price on shares of Acuity from $315.00 to $390.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. TD Cowen restated a “buy” rating on shares of Acuity in a research note on Thursday, June 25th. Morgan Stanley raised 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. Finally, Weiss Ratings upgraded shares of Acuity from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $397.17.
Acuity Price Performance
Shares of NYSE AYI opened at $330.36 on Friday. Acuity, Inc. has a fifty-two week low of $257.04 and a fifty-two week high of $380.17. The business has a 50 day moving average price of $318.47 and a two-hundred day moving average price of $304.56. The company has a quick ratio of 1.47, a current ratio of 2.05 and a debt-to-equity ratio of 0.24. The firm has a market cap of $9.89 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27.
Acuity (NYSE:AYI – Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.14. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. Acuity had a return on equity of 20.26% and a net margin of 10.25%.Acuity’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $5.12 EPS. Sell-side analysts expect that Acuity, Inc. will post 18.44 earnings per share for the current fiscal year.
Acuity Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, July 17th. Acuity’s payout ratio is 5.31%.
Insider Transactions at Acuity
In related news, Director Maya Leibman purchased 200 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average cost of $288.83 per share, with a total value of $57,766.00. Following the completion of the acquisition, the director directly owned 400 shares of the company’s stock, valued at approximately $115,532. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.
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.
Recommended Stories
- Five stocks we like better than Acuity
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding AYI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acuity, Inc. (NYSE:AYI – Free Report).
Receive News & Ratings for Acuity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity and related companies with MarketBeat.com's FREE daily email newsletter.
