Acuity Brands Inc (AYI) Shares Sold by AGF Investments Inc.

AGF Investments Inc. lessened its position in shares of Acuity Brands Inc (NYSE:AYI) by 36.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,968 shares of the electronics maker’s stock after selling 2,258 shares during the quarter. AGF Investments Inc.’s holdings in Acuity Brands were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. grew its stake in Acuity Brands by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 2,327 shares of the electronics maker’s stock valued at $473,000 after purchasing an additional 6 shares during the last quarter. Cleararc Capital Inc. grew its stake in Acuity Brands by 0.9% during the 1st quarter. Cleararc Capital Inc. now owns 1,098 shares of the electronics maker’s stock valued at $224,000 after purchasing an additional 10 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in Acuity Brands by 0.6% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 2,463 shares of the electronics maker’s stock valued at $502,000 after purchasing an additional 14 shares during the last quarter. CIBC Asset Management Inc grew its stake in Acuity Brands by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,024 shares of the electronics maker’s stock valued at $818,000 after purchasing an additional 15 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Acuity Brands by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock valued at $173,000 after purchasing an additional 27 shares during the last quarter.

Several research firms have weighed in on AYI. BidaskClub downgraded Acuity Brands from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Acuity Brands from a “hold” rating to a “buy” rating and set a $196.00 price target on the stock in a research note on Thursday, June 22nd. Robert W. Baird reiterated an “outperform” rating and set a $206.00 price target (down previously from $210.00) on shares of Acuity Brands in a research note on Monday, June 19th. Deutsche Bank AG boosted their price target on Acuity Brands from $215.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $215.00 price target on shares of Acuity Brands in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $219.00.

Acuity Brands Inc (NYSE AYI) opened at 179.95 on Tuesday. The firm has a market cap of $7.76 billion, a PE ratio of 25.10 and a beta of 1.42. The company has a 50-day moving average price of $187.54 and a 200-day moving average price of $187.74. Acuity Brands Inc has a 12-month low of $157.33 and a 12-month high of $267.08.

Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.12. Acuity Brands had a return on equity of 19.89% and a net margin of 9.04%. The firm had revenue of $891.60 million for the quarter, compared to analyst estimates of $878.66 million. During the same quarter last year, the company posted $2.06 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Acuity Brands Inc will post $8.33 earnings per share for the current year.

Acuity Brands announced that its Board of Directors has authorized a share buyback plan on Thursday, June 29th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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In related news, Director Peter C. Browning sold 970 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $200.05, for a total transaction of $194,048.50. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $200,050. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark A. Black sold 5,427 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $205.29, for a total value of $1,114,108.83. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Acuity Brands Company Profile

Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.

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Institutional Ownership by Quarter for Acuity Brands (NYSE:AYI)

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