Seven Eight Capital LP Boosts Stake in Acuity Brands Inc (AYI)

Seven Eight Capital LP lifted its holdings in Acuity Brands Inc (NYSE:AYI) by 23,600.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,700 shares of the electronics maker’s stock after buying an additional 23,600 shares during the period. Seven Eight Capital LP owned approximately 0.05% of Acuity Brands worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Seven Bridges Advisors LLC purchased a new position in shares of Acuity Brands in the second quarter worth about $117,000. Van ECK Associates Corp lifted its stake in shares of Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock worth $125,000 after buying an additional 44 shares in the last quarter. Israel Discount Bank of New York lifted its stake in shares of Acuity Brands by 32.3% in the second quarter. Israel Discount Bank of New York now owns 615 shares of the electronics maker’s stock worth $125,000 after buying an additional 150 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Acuity Brands by 204.1% in the first quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock worth $152,000 after buying an additional 500 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of Acuity Brands by 21.1% in the second quarter. Penserra Capital Management LLC now owns 780 shares of the electronics maker’s stock worth $158,000 after buying an additional 136 shares in the last quarter.

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In other Acuity Brands news, Director Peter C. Browning sold 970 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $200.05, for a total value of $194,048.50. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $200,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark A. Black sold 5,427 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $205.29, for a total transaction of $1,114,108.83. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Acuity Brands Inc (NYSE:AYI) traded up 0.53% on Tuesday, hitting $180.91. 131,763 shares of the stock traded hands. Acuity Brands Inc has a 12-month low of $157.33 and a 12-month high of $267.08. The firm’s 50-day moving average price is $187.54 and its 200-day moving average price is $187.74. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 25.24 and a beta of 1.42.

Acuity Brands (NYSE:AYI) last posted its 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. The firm had revenue of $891.60 million during the quarter, compared to the consensus estimate of $878.66 million. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 EPS. On average, equities research analysts anticipate that Acuity Brands Inc will post $8.33 EPS for the current fiscal year.

Acuity Brands declared that its board has approved a stock buyback plan on Thursday, June 29th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Several equities analysts have recently weighed in on AYI shares. Deutsche Bank AG raised their price target on shares of Acuity Brands from $215.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Wolfe Research assumed coverage on shares of Acuity Brands in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $237.00 price target on the stock. Roth Capital restated a “sell” rating and set a $150.00 price objective on shares of Acuity Brands in a research report on Tuesday, July 4th. Cowen and Company cut their price objective on shares of Acuity Brands from $230.00 to $226.00 and set an “outperform” rating for the company in a research report on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $196.00 price objective for the company in a research report on Thursday, June 22nd. Three investment 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $219.00.

About Acuity Brands

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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