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

Acuity Brands (AYI) : Eagle Asset Management Inc reduced its stake in Acuity Brands by 16.1% during the most recent quarter end. The investment management company now holds a total of 367,276 shares of Acuity Brands which is valued at $98,363,858 after selling 70,485 shares in Acuity Brands , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Acuity Brands makes up approximately 0.65% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Acadian Asset Management sold out all of its stake in AYI during the most recent quarter. The investment firm sold 45 shares of AYI which is valued $12,052. Arcadia Investment Management Corpmi added AYI to its portfolio by purchasing 8 company shares during the most recent quarter which is valued at $2,110. Gradient Investments sold out all of its stake in AYI during the most recent quarter. The investment firm sold 1,592 shares of AYI which is valued $419,794.Bnp Paribas Arbitrage Sa boosted its stake in AYI in the latest quarter, The investment management firm added 8,249 additional shares and now holds a total of 39,923 shares of Acuity Brands which is valued at $10,564,424. Acuity Brands makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.

Acuity Brands opened for trading at $267.89 and hit $269.049 on the upside on Wednesday, eventually ending the session at $267.82, with a gain of 0.42% or 1.12 points. The heightened volatility saw the trading volume jump to 2,56,503 shares. Company has a market cap of $11,754 M.

On the company’s financial health, Acuity Brands reported $2.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $2.03. The company had revenue of $851.50 million for the quarter, compared to analysts expectations of $847.59 million. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

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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