Reinhart Partners LLC. Sells 2,862 Shares of Acuity, Inc. $AYI

Reinhart Partners LLC. lessened its holdings in shares of Acuity, Inc. (NYSE:AYI) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 16,812 shares of the electronics maker’s stock after selling 2,862 shares during the period. Reinhart Partners LLC. owned approximately 0.06% of Acuity worth $5,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AYI. Wedge Capital Management L L P NC grew its stake in shares of Acuity by 8.8% in the second quarter. Wedge Capital Management L L P NC now owns 42,944 shares of the electronics maker’s stock worth $16,175,000 after acquiring an additional 3,478 shares during the last quarter. Corient Private Wealth LP increased its position in Acuity by 63.7% during the second quarter. Corient Private Wealth LP now owns 20,170 shares of the electronics maker’s stock worth $7,597,000 after acquiring an additional 7,846 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in Acuity during the 2nd quarter valued at $1,450,000. ABN AMRO Bank N.V. acquired a new position in Acuity during the 2nd quarter valued at $9,736,000. Finally, Lightrock Netherlands B.V. boosted its holdings in Acuity by 176.5% in the 1st quarter. Lightrock Netherlands B.V. now owns 44,803 shares of the electronics maker’s stock valued at $12,555,000 after purchasing an additional 28,600 shares during the period. Institutional investors and hedge funds own 98.21% of the company’s stock.

Acuity Trading Down 0.9%

Shares of Acuity stock opened at $297.70 on Friday. Acuity, Inc. has a 52-week low of $257.04 and a 52-week high of $380.17. The firm has a market capitalization of $8.91 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.70 and a quick ratio of 1.28. The company’s fifty day moving average price is $327.04 and its two-hundred day moving average price is $312.85.

Acuity (NYSE:AYI) last released its quarterly earnings data on Thursday, October 1st. The electronics maker reported $5.77 EPS for the quarter, topping analysts’ consensus estimates of $5.57 by $0.20. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Acuity had a net margin of 11.45% and a return on equity of 20.30%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $5.20 EPS. On average, analysts expect that Acuity, Inc. will post 19.99 EPS for the current year.

Acuity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 16th. Acuity’s payout ratio is presently 4.68%.

Wall Street Analyst Weigh In

AYI has been the topic of several research reports. William Blair downgraded shares of Acuity from an “outperform” rating to a “market perform” rating in a report on Monday, September 28th. TD Cowen reiterated a “buy” rating on shares of Acuity in a research note on Thursday, June 25th. Morgan Stanley lifted their target price on Acuity from $400.00 to $410.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Acuity in a research note on Tuesday, September 22nd. Finally, Robert W. Baird cut their price target on Acuity from $360.00 to $348.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Acuity presently has a consensus rating of “Hold” and an average target price of $380.20.

Insiders Place Their Bets

In other news, CFO Karen Holcom sold 2,000 shares of the company’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 value of $659,240.00. Following the sale, the chief financial officer directly owned 17,447 shares in the company, valued at approximately $5,750,880.14. This represents a 10.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Acuity Profile

Acuity (NYSE: AYI) is a technology company that provides lighting, lighting controls and building-management solutions for commercial, institutional, industrial and residential environments. Its products are designed to improve illumination, energy efficiency, automation and the overall performance of indoor and outdoor spaces.

The company offers a broad portfolio of lighting fixtures, controls, sensors and connected-building technologies. Its brands and product lines have included Lithonia Lighting, Holophane, Peerless, SensorSwitch, Distech Controls and Atrius.