Envestnet Asset Management Inc. Has $17.27 Million Stake in Acuity Brands, Inc. (NYSE:AYI)

Envestnet Asset Management Inc. trimmed its position in Acuity Brands, Inc. (NYSE:AYI) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,524 shares of the electronics maker’s stock after selling 137 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of Acuity Brands worth $17,269,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of Acuity Brands in the first quarter valued at $27,000. EdgeRock Capital LLC acquired a new position in Acuity Brands during the second quarter worth $41,000. Raleigh Capital Management Inc. raised its stake in Acuity Brands by 5,666.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 170 shares in the last quarter. Assetmark Inc. raised its stake in Acuity Brands by 900.0% during the fourth quarter. Assetmark Inc. now owns 250 shares of the electronics maker’s stock worth $51,000 after acquiring an additional 225 shares in the last quarter. Finally, Evermay Wealth Management LLC acquired a new position in Acuity Brands during the fourth quarter worth $61,000. 98.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on AYI. Robert W. Baird dropped their price objective on Acuity Brands from $286.00 to $280.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. StockNews.com lowered Acuity Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company lowered Acuity Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $295.00 to $260.00 in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $279.00.

Acuity Brands Stock Performance

Shares of NYSE:AYI opened at $271.84 on Tuesday. Acuity Brands, Inc. has a twelve month low of $156.84 and a twelve month high of $275.05. The firm has a market cap of $8.36 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.77. The business has a fifty day moving average of $247.68 and a 200-day moving average of $252.64.

Acuity Brands (NYSE:AYI) last announced its earnings results on Thursday, June 27th. The electronics maker reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $0.33. The company had revenue of $968.10 million during the quarter, compared to analyst estimates of $996.52 million. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $3.50 earnings per share. On average, equities research analysts predict that Acuity Brands, Inc. will post 14.26 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Thursday, July 18th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.22%. The ex-dividend date was Thursday, July 18th. Acuity Brands’s dividend payout ratio is 4.88%.

Acuity Brands Company Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.