Envestnet Asset Management Inc. Sells 137 Shares of Acuity Brands, Inc. (NYSE:AYI)

Envestnet Asset Management Inc. lowered its stake in shares of Acuity Brands, Inc. (NYSE:AYI) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,524 shares of the electronics maker’s stock after selling 137 shares during the period. Envestnet Asset Management Inc.’s holdings in Acuity Brands were worth $17,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AYI. New Covenant Trust Company N.A. acquired a new stake in shares of Acuity Brands during the first quarter worth about $27,000. Raleigh Capital Management Inc. raised its position in shares of Acuity Brands by 5,666.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 170 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of Acuity Brands during the second quarter worth about $41,000. Assetmark Inc. raised its position in shares of Acuity Brands by 900.0% during the fourth quarter. Assetmark Inc. now owns 250 shares of the electronics maker’s stock worth $51,000 after purchasing an additional 225 shares during the period. Finally, Evermay Wealth Management LLC acquired a new stake in shares of Acuity Brands during the fourth quarter worth about $61,000. Institutional investors own 98.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AYI shares. StockNews.com lowered Acuity Brands from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 27th. Robert W. Baird dropped their price target on Acuity Brands from $286.00 to $280.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company lowered Acuity Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $295.00 to $260.00 in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Acuity Brands currently has a consensus rating of “Hold” and an average target price of $279.00.

Acuity Brands Stock Down 0.1 %

Shares of Acuity Brands stock opened at $271.84 on Tuesday. The business’s 50 day simple moving average is $247.68 and its 200 day simple moving average is $252.64. Acuity Brands, Inc. has a 52-week low of $156.84 and a 52-week high of $275.05. The firm has a market cap of $8.36 billion, a PE ratio of 22.10, a P/E/G ratio of 1.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.77.

Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Thursday, June 27th. The electronics maker reported $4.15 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.33. The firm had revenue of $968.10 million for the quarter, compared to analyst estimates of $996.52 million. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.50 EPS. On average, analysts predict that Acuity Brands, Inc. will post 14.26 earnings per share for the current fiscal year.

Acuity Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Thursday, July 18th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, July 18th. Acuity Brands’s dividend payout ratio (DPR) is 4.88%.

Acuity Brands Company Profile

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.