Key Points
- CFO Karen Holcom sold 2,000 Acuity shares at an average price of $329.62, generating $659,240. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving her with 17,447 shares.
- Acuity recently exceeded quarterly expectations, reporting $5.31 in EPS versus the $5.17 consensus and revenue of $1.20 billion. Revenue increased 1.6% year over year.
- Wall Street maintains a “Moderate Buy” consensus, with an average price target of $397.17 versus the stock’s recent price near $329. Institutional investors own 98.21% of the company.
Acuity, Inc. (NYSE:AYI - Get Free Report) CFO Karen Holcom sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $329.62, for a total transaction of $659,240.00. Following the completion of the sale, the chief financial officer directly owned 17,447 shares in the company, valued at $5,750,880.14. This represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Acuity Price Performance
Acuity stock opened at $329.04 on Friday. Acuity, Inc. has a 1 year low of $257.04 and a 1 year high of $380.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 2.05. The firm has a 50 day moving average price of $343.40 and a 200 day moving average price of $308.69. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.62 and a beta of 1.29.
Acuity (NYSE:AYI - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 10.25% and a return on equity of 20.26%. Acuity's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.12 earnings per share. Sell-side analysts predict that Acuity, Inc. will post 18.49 earnings per share for the current year.
Acuity Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 17th. Acuity's dividend payout ratio is presently 5.31%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on AYI. The Goldman Sachs Group lifted their target price on Acuity from $295.00 to $358.00 and gave the company a "neutral" rating in a report on Friday, June 26th. TD Cowen restated a "buy" rating on shares of Acuity in a research note on Thursday, June 25th. Weiss Ratings upgraded Acuity from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Morgan Stanley lifted their price objective on Acuity from $400.00 to $410.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Finally, Oppenheimer set a $465.00 target price on Acuity in a report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $397.17.
Check Out Our Latest Stock Analysis on AYI
Hedge Funds Weigh In On Acuity
Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP boosted its position in Acuity by 63.7% during the 2nd quarter. Corient Private Wealth LP now owns 20,170 shares of the electronics maker's stock worth $7,597,000 after purchasing an additional 7,846 shares during the period. Brown Financial Advisors acquired a new stake in Acuity in the 2nd quarter valued at $235,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Acuity in the second quarter valued at about $6,576,000. California State Teachers Retirement System raised its position in Acuity by 35,316.0% in the second quarter. California State Teachers Retirement System now owns 12,575,171 shares of the electronics maker's stock valued at $4,736,564,000 after purchasing an additional 12,539,664 shares during the period. Finally, Guardian Wealth Management Inc. lifted its stake in shares of Acuity by 4.4% during the second quarter. Guardian Wealth Management Inc. now owns 11,316 shares of the electronics maker's stock worth $4,263,000 after purchasing an additional 473 shares in the last quarter. Institutional investors and hedge funds own 98.21% of the company's stock.
Acuity Company Profile
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Get Free Report)
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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