Brinker Capital Inc. increased its stake in shares of Acuity Brands, Inc. (NYSE:AYI) by 9.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,995 shares of the electronics maker’s stock after buying an additional 517 shares during the period. Brinker Capital Inc.’s holdings in Acuity Brands were worth $834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Generation Investment Management LLP increased its holdings in Acuity Brands by 12.4% during the fourth quarter. Generation Investment Management LLP now owns 3,767,048 shares of the electronics maker’s stock worth $663,000,000 after buying an additional 415,908 shares during the last quarter. BlackRock Inc. increased its holdings in Acuity Brands by 1.8% during the first quarter. BlackRock Inc. now owns 2,839,265 shares of the electronics maker’s stock worth $395,201,000 after buying an additional 50,931 shares during the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Acuity Brands by 24.1% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,755,704 shares of the electronics maker’s stock worth $309,004,000 after buying an additional 341,244 shares during the last quarter. Standard Life Aberdeen plc increased its holdings in Acuity Brands by 14.4% during the fourth quarter. Standard Life Aberdeen plc now owns 1,565,088 shares of the electronics maker’s stock worth $275,479,000 after buying an additional 196,874 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Acuity Brands by 86.0% during the first quarter. Wells Fargo & Company MN now owns 1,062,573 shares of the electronics maker’s stock worth $147,899,000 after buying an additional 491,181 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Shares of Acuity Brands opened at $118.25 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.15 and a quick ratio of 1.51. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.34. Acuity Brands, Inc. has a twelve month low of $109.98 and a twelve month high of $208.82.

Acuity Brands (NYSE:AYI) last issued its earnings results on Wednesday, April 4th. The electronics maker reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.06). The business had revenue of $832.10 million for the quarter, compared to the consensus estimate of $799.33 million. Acuity Brands had a return on equity of 20.56% and a net margin of 9.68%. Acuity Brands’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 EPS. analysts predict that Acuity Brands, Inc. will post 7.99 EPS for the current fiscal year.

Acuity Brands declared that its board has approved a share repurchase plan on Wednesday, April 4th that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, Director George Douglas Dillard, Jr. acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was bought at an average cost of $112.76 per share, for a total transaction of $563,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W. Patrick Battle acquired 1,330 shares of the business’s stock in a transaction dated Thursday, May 3rd. The stock was purchased at an average price of $112.91 per share, with a total value of $150,170.30. Following the completion of the transaction, the director now directly owns 2,809 shares of the company’s stock, valued at approximately $317,164.19. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.

AYI has been the subject of a number of research analyst reports. Cowen set a $190.00 price objective on shares of Acuity Brands and gave the stock a “buy” rating in a report on Wednesday, April 4th. Vertical Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a report on Monday, April 16th. Williams Capital decreased their price objective on shares of Acuity Brands from $175.00 to $151.00 and set a “hold” rating for the company in a report on Thursday, April 5th. Robert W. Baird restated a “hold” rating and set a $168.00 price objective on shares of Acuity Brands in a report on Friday, March 16th. Finally, Wells Fargo & Co cut their target price on shares of Acuity Brands from $175.00 to $157.00 and set a “market perform” rating for the company in a research report on Wednesday, March 28th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $177.82.

About Acuity Brands

Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

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

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