Acuity (NYSE:AYI) Downgraded by William Blair to “Market Perform”

William Blair cut shares of Acuity (NYSE:AYI) from an outperform rating to a market perform rating in a report issued on Monday morning, MarketBeat Ratings reports.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Acuity in a report on Tuesday, September 22nd. Wall Street Zen upgraded shares of Acuity from a “hold” rating to a “buy” rating in a research note on Sunday, August 30th. Robert W. Baird increased their price target on Acuity from $315.00 to $390.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Oppenheimer set a $465.00 price target on Acuity in a research note on Friday, June 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Acuity in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $397.17.

Acuity Stock Performance

Shares of AYI stock opened at $306.06 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.05 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $332.27 and a 200-day moving average price of $310.70. Acuity has a 52 week low of $257.04 and a 52 week high of $380.17. The firm has a market capitalization of $9.16 billion, a PE ratio of 20.30, a P/E/G ratio of 1.56 and a beta of 1.29.

Acuity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Acuity’s dividend payout ratio (DPR) is presently 5.31%.

Insider Transactions at Acuity

In related news, CFO Karen Holcom sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were 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 approximately $5,750,880.14. The trade was a 10.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its stake in shares of Acuity by 61.6% during the 2nd quarter. QRG Capital Management Inc. now owns 15,260 shares of the electronics maker’s stock worth $5,748,000 after acquiring an additional 5,816 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Acuity by 79.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,732 shares of the electronics maker’s stock worth $652,000 after purchasing an additional 769 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Acuity by 40.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,495 shares of the electronics maker’s stock worth $940,000 after purchasing an additional 719 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Acuity by 82.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the electronics maker’s stock worth $1,097,000 after purchasing an additional 1,314 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Acuity by 38.2% in the 2nd quarter. NewEdge Advisors LLC now owns 3,566 shares of the electronics maker’s stock worth $1,343,000 after purchasing an additional 986 shares during the period. 98.21% of the stock is currently owned by institutional investors.

Acuity Company Profile

Acuity, formerly known as Acuity Brands, Inc, is an industrial technology company that develops products and systems for lighting, building management and connected spaces. Its offerings are designed for commercial, institutional, industrial and residential applications, helping customers manage illumination, energy use, occupancy and other aspects of the built environment.

The company’s lighting portfolio includes indoor and outdoor fixtures, lighting controls, and related components.