Terra Nova Asset Management LLC Has $790,000 Stake in Acuity Brands Inc (NYSE:AYI)

Terra Nova Asset Management LLC lowered its stake in Acuity Brands Inc (NYSE:AYI) by 22.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,884 shares of the electronics maker’s stock after selling 1,132 shares during the period. Terra Nova Asset Management LLC’s holdings in Acuity Brands were worth $790,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Integrated Investment Consultants LLC raised its stake in Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock valued at $114,000 after buying an additional 205 shares in the last quarter. Van ECK Associates Corp raised its stake in Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock valued at $125,000 after buying an additional 44 shares in the last quarter. Capital Analysts LLC raised its stake in Acuity Brands by 3.8% in the first quarter. Capital Analysts LLC now owns 680 shares of the electronics maker’s stock valued at $139,000 after buying an additional 25 shares in the last quarter. Global X Management Co. LLC raised its stake in Acuity Brands by 204.1% in the first quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock valued at $152,000 after buying an additional 500 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Acuity Brands by 3.3% in the first quarter. Pacer Advisors Inc. now owns 846 shares of the electronics maker’s stock valued at $173,000 after buying an additional 27 shares in the last quarter.

Acuity Brands Inc (NYSE:AYI) traded up 0.86% during trading on Friday, hitting $205.26. 321,825 shares of the stock traded hands. The stock has a market cap of $8.85 billion, a PE ratio of 28.63 and a beta of 1.42. Acuity Brands Inc has a 12 month low of $157.33 and a 12 month high of $280.89. The company has a 50-day moving average price of $186.57 and a 200-day moving average price of $194.46.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Thursday, June 29th. The electronics maker reported $2.15 earnings per share 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 analyst estimates of $878.66 million. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 EPS. Equities research analysts expect that Acuity Brands Inc will post $8.31 EPS for the current year.

Acuity Brands announced that its board has approved a share buyback plan on Thursday, June 29th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be issued a $0.13 dividend. The ex-dividend date is Friday, July 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.25%. Acuity Brands’s payout ratio is 7.24%.

COPYRIGHT VIOLATION WARNING: This piece was first posted by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://transcriptdaily.com/2017/07/23/terra-nova-asset-management-llc-has-790000-stake-in-acuity-brands-inc-nyseayi.html.

Several research firms recently issued reports on AYI. Oppenheimer Holdings, Inc. reduced their price target on shares of Acuity Brands from $265.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 4th. Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird dropped their price objective on shares of Acuity Brands from $242.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 4th. BidaskClub raised shares of Acuity Brands from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $215.00 price objective on shares of Acuity Brands in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $219.00.

In other news, Director Peter C. Browning sold 970 shares of the business’s 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 directly owns 1,000 shares in the company, valued at approximately $200,050. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark A. Black sold 5,427 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was 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. 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.

Want to see what other hedge funds are holding AYI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acuity Brands Inc (NYSE:AYI).

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

Receive News & Ratings for Acuity Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply