Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Acuity, Inc. (NYSE:AYI – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,800 shares of the electronics maker’s stock, valued at approximately $7,079,000. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.06% of Acuity at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Acuity during the 2nd quarter worth about $1,121,983,000. Orion Porfolio Solutions LLC increased its position in shares of 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 acquiring an additional 2,263,925 shares during the last quarter. Norges Bank bought a new stake in Acuity during the fourth quarter worth about $138,747,000. Bank of America Corp DE acquired a new position in Acuity during the second quarter valued at approximately $106,018,000. Finally, Palestra Capital Management LLC bought a new position in Acuity in the third quarter valued at approximately $91,539,000. 98.21% of the stock is currently owned by institutional investors and hedge funds.
Acuity Trading Down 1.8%
Shares of Acuity stock opened at $335.44 on Friday. The business has a fifty day simple moving average of $342.80 and a two-hundred day simple moving average of $308.53. Acuity, Inc. has a 1 year low of $257.04 and a 1 year high of $380.17. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.05 and a quick ratio of 1.47.
Acuity Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were paid a $0.20 dividend. The ex-dividend date was Friday, July 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Acuity’s dividend payout ratio is 5.31%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on AYI shares. The Goldman Sachs Group upped their price objective on Acuity from $295.00 to $358.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. TD Cowen reissued a “buy” rating on shares of Acuity in a research note on Thursday, June 25th. Oppenheimer set a $465.00 target price on shares of Acuity in a report on Friday, June 26th. Wall Street Zen cut shares of Acuity from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Morgan Stanley boosted their price objective on shares of Acuity from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.17.
View Our Latest Stock Analysis on Acuity
About Acuity
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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