Lazard Asset Management LLC Has $7.07 Million Position in Acuity, Inc. $AYI

Lazard Asset Management LLC raised its stake in Acuity, Inc. (NYSE:AYI) by 16.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 25,221 shares of the electronics maker’s stock after purchasing an additional 3,516 shares during the quarter. Lazard Asset Management LLC’s holdings in Acuity were worth $7,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new position in shares of Acuity during the 4th quarter valued at $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Acuity during the fourth quarter worth $27,000. Entrust Financial LLC purchased a new stake in shares of Acuity during the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Acuity during the fourth quarter valued at $36,000. Finally, Torren Management LLC acquired a new stake in Acuity during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AYI shares. Robert W. Baird upped their target price on Acuity from $315.00 to $390.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. TD Cowen reiterated a “buy” rating on shares of Acuity in a report on Thursday, June 25th. Morgan Stanley boosted their price target on Acuity from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded Acuity from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, Wall Street Zen raised shares of Acuity from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Acuity presently has a consensus rating of “Moderate Buy” and an average price target of $397.17.

Acuity Price Performance

NYSE AYI opened at $338.31 on Friday. Acuity, Inc. has a fifty-two week low of $257.04 and a fifty-two week high of $380.17. The stock’s 50-day moving average is $323.20 and its two-hundred day moving average is $303.76. The firm has a market cap of $10.13 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27. 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 (NYSE:AYI) last released its quarterly earnings results 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 during 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%.The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.12 EPS. On average, analysts anticipate that Acuity, Inc. will post 18.44 earnings per share for the current fiscal year.

Acuity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is 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 presently 5.31%.

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.