Wells Fargo & Company MN lowered its stake in Acuity Brands, Inc. (NYSE:AYI) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,604 shares of the electronics maker’s stock after selling 6,555 shares during the quarter. Wells Fargo & Company MN owned about 0.18% of Acuity Brands worth $13,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alps Advisors Inc. lifted its position in shares of Acuity Brands by 0.3% during the second quarter. Alps Advisors Inc. now owns 2,327 shares of the electronics maker’s stock worth $473,000 after purchasing an additional 6 shares in the last quarter. QS Investors LLC lifted its position in shares of Acuity Brands by 1.2% during the second quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock worth $120,000 after purchasing an additional 7 shares in the last quarter. Sentry Investment Management LLC lifted its position in shares of Acuity Brands by 1.1% during the second quarter. Sentry Investment Management LLC now owns 3,301 shares of the electronics maker’s stock worth $671,000 after purchasing an additional 35 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Acuity Brands by 1.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,326 shares of the electronics maker’s stock worth $676,000 after purchasing an additional 55 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Acuity Brands by 4.8% during the second quarter. MML Investors Services LLC now owns 1,233 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 56 shares in the last quarter.

Several brokerages have recently issued reports on AYI. Zacks Investment Research raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. KeyCorp began coverage on shares of Acuity Brands in a research note on Friday, October 13th. They set a “sector weight” rating on the stock. Oppenheimer restated a “buy” rating and set a $200.00 target price (down from $230.00) on shares of Acuity Brands in a research note on Tuesday, October 10th. Wolfe Research lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, October 9th. Finally, Seaport Global Securities restated a “buy” rating and set a $200.00 target price (down from $225.00) on shares of Acuity Brands in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $197.17.

In other Acuity Brands news, EVP Mark A. Black sold 7,441 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $161.32, for a total value of $1,200,382.12. Following the transaction, the executive vice president now directly owns 30,649 shares in the company, valued at $4,944,296.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Shares of Acuity Brands, Inc. (NYSE:AYI) opened at $172.18 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.07. Acuity Brands, Inc. has a one year low of $153.28 and a one year high of $241.60. The firm has a market cap of $7,267.58, a P/E ratio of 23.14, a P/E/G ratio of 1.82 and a beta of 1.44.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.25. The company had revenue of $957.60 million for the quarter, compared to analyst estimates of $975.05 million. Acuity Brands had a net margin of 9.18% and a return on equity of 20.47%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. analysts predict that Acuity Brands, Inc. will post 8.6 EPS for the current fiscal year.

WARNING: “Acuity Brands, Inc. (AYI) Holdings Reduced by Wells Fargo & Company MN” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://theolympiareport.com/2017/12/24/acuity-brands-inc-ayi-holdings-reduced-by-wells-fargo-company-mn.html.

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.

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

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