Terra Nova Asset Management adds Acuity Brands (AYI) to its portfolio

Acuity Brands (AYI) : Terra Nova Asset Management added new position in Acuity Brands during the most recent quarter end. The investment management firm now holds 6,353 shares of Acuity Brands which is valued at $1,559,725 , the company said in a statement filed on May 2, 2016 with the SEC.Acuity Brands makes up approximately 1.81% of Terra Nova Asset Management’s portfolio.

Acuity Brands opened for trading at $243.64 and hit $245.51 on the upside on Friday, eventually ending the session at $245.51, with a gain of 0.64% or 1.56 points. The heightened volatility saw the trading volume jump to 2,85,522 shares. Company has a market cap of $10,760 M.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in AYI in the latest quarter, The investment management firm added 622 additional shares and now holds a total of 77,069 shares of Acuity Brands which is valued at $18,921,210. Acuity Brands makes up approx 0.06% of Rhumbline Advisers’s portfolio. Sawtooth Asset Management sold out all of its stake in AYI during the most recent quarter. The investment firm sold 1,469 shares of AYI which is valued $358,274.Wilbanks Smith Thomas Asset Management reduced its stake in AYI by selling 10 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 6,247 shares of AYI which is valued at $1,523,581. Acuity Brands makes up approx 0.18% of Wilbanks Smith Thomas Asset Management’s portfolio.Trillium Asset Management boosted its stake in AYI in the latest quarter, The investment management firm added 10,702 additional shares and now holds a total of 82,192 shares of Acuity Brands which is valued at $21,043,618. Acuity Brands makes up approx 1.37% of Trillium Asset Management’s portfolio.Joel Isaacson reduced its stake in AYI by selling 10 shares or 28.57% in the most recent quarter. The Hedge Fund company now holds 25 shares of AYI which is valued at $6,401.

On the company’s financial health, Acuity Brands reported $1.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Apr 6, 2016. Analyst had a consensus of $1.57. The company had revenue of $777.80 million for the quarter, compared to analysts expectations of $752.75 million. The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on Acuity Brands. Acuity Brands was Downgraded by Credit Agricole to ” Outperform” on Apr 7, 2016. Company shares were Reiterated by Canaccord Genuity on Apr 7, 2016 to “Buy”, Firm has raised the Price Target to $ 269 from a previous price target of $247 .Shares were Reiterated by Canaccord Genuity on Apr 4, 2016 to “Buy” and Lowered the Price Target to $ 247 from a previous price target of $265 .

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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