HB Wealth Management LLC Lowers Stake in Acuity, Inc. $AYI

HB Wealth Management LLC lessened its holdings in Acuity, Inc. (NYSE:AYI) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,897 shares of the electronics maker’s stock after selling 147 shares during the quarter. HB Wealth Management LLC’s holdings in Acuity were worth $1,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new position in Acuity in the 1st quarter worth $250,000. Dynamic Technology Lab Private Ltd purchased a new position in Acuity in the 1st quarter worth $379,000. Intech Investment Management LLC raised its position in Acuity by 20.7% in the 1st quarter. Intech Investment Management LLC now owns 28,533 shares of the electronics maker’s stock worth $7,514,000 after purchasing an additional 4,886 shares during the period. Acadian Asset Management LLC raised its position in Acuity by 12.6% in the 1st quarter. Acadian Asset Management LLC now owns 542,715 shares of the electronics maker’s stock worth $142,907,000 after purchasing an additional 60,784 shares during the period. Finally, GAMMA Investing LLC raised its position in Acuity by 12.1% in the 1st quarter. GAMMA Investing LLC now owns 863 shares of the electronics maker’s stock worth $227,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AYI. Cowen reiterated a “buy” rating on shares of Acuity in a research report on Thursday. Robert W. Baird lifted their target price on shares of Acuity from $335.00 to $360.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. TD Cowen raised their price target on shares of Acuity from $330.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company raised their price target on shares of Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Oppenheimer raised their price target on shares of Acuity from $380.00 to $435.00 and gave the stock an “outperform” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Acuity presently has an average rating of “Moderate Buy” and a consensus price target of $395.17.

Acuity Trading Down 1.9%

Shares of AYI opened at $356.09 on Friday. The firm’s 50-day moving average price is $327.63 and its 200-day moving average price is $287.76. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.02 and a beta of 1.64. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. Acuity, Inc. has a 1-year low of $216.81 and a 1-year high of $375.67.

Acuity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 17th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Acuity’s payout ratio is presently 5.43%.

Acuity 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.