Eagle Asset Management Inc Lowers stake in Acuity Brands (AYI)

Acuity Brands (AYI) : Eagle Asset Management Inc reduced its stake in Acuity Brands by 0.67% during the most recent quarter end. The investment management company now holds a total of 364,825 shares of Acuity Brands which is valued at $87,590,834 after selling 2,451 shares in Acuity Brands , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Acuity Brands makes up approximately 0.60% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp sold out all of its stake in AYI during the most recent quarter. The investment firm sold 235 shares of AYI which is valued $57,291.Oregon Public Employees Retirement Fund boosted its stake in AYI in the latest quarter, The investment management firm added 6,780 additional shares and now holds a total of 16,080 shares of Acuity Brands which is valued at $3,920,143. Acuity Brands makes up approx 0.08% of Oregon Public Employees Retirement Fund’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in AYI by selling 3,678 shares or 9.21% in the most recent quarter. The Hedge Fund company now holds 36,245 shares of AYI which is valued at $8,807,173. Acuity Brands makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank boosted its stake in AYI in the latest quarter, The investment management firm added 16 additional shares and now holds a total of 36 shares of Acuity Brands which is valued at $8,748.

Acuity Brands closed down -3.7 points or -1.52% at $240.09 with 6,53,268 shares getting traded on Tuesday. Post opening the session at $243.54, the shares hit an intraday low of $239.23 and an intraday high of $244.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Acuity Brands reported $2.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Oct 5, 2016. Analyst had a consensus of $2.39. The company had revenue of $925.50 million for the quarter, compared to analysts expectations of $946.53 million. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS.

Investors should note that on Sep 30, 2016, Acuity Brands announced a cash dividend of $0.1300. The company’s management has announced Oct 14, 2016 as the ex-dividend date and fixed the record date on Oct 18, 2016. The payable date has been fixed on Nov 1, 2016.

Many Wall Street Analysts have commented on Acuity Brands. Williams Capital Group Initiated Acuity Brands on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $306.ROTH Capital Initiated Acuity Brands on Aug 25, 2016 to “Neutral”, Price Target of the shares are set at $275.

Acuity Brands Inc. (Acuity Brands) is the parent company of Acuity Brands Lighting Inc. (ABL) and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial institutional industrial infrastructure and residential applications throughout North America and select international markets. The Company’s lighting solutions include devices such as luminaires lighting controls power supplies prismatic skylights light-emitting diode (LED) lamps and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources including daylight and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions). On March 13 2013 the Company acquired eldoLED Europe BV.

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