Eulav Asset Management Lowers stake in Acuity Brands (AYI)

Acuity Brands (AYI) : Eulav Asset Management reduced its stake in Acuity Brands by 10.67% during the most recent quarter end. The investment management company now holds a total of 87,100 shares of Acuity Brands which is valued at $23,872,368 after selling 10,400 shares in Acuity Brands , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Acuity Brands makes up approximately 1.25% of Eulav Asset Management’s portfolio.

Other Hedge Funds, Including , Sciencast Management Lp sold out all of its stake in AYI during the most recent quarter. The investment firm sold 1,650 shares of AYI which is valued $452,232.Credit Suisse Ag reduced its stake in AYI by selling 30,257 shares or 14.01% in the most recent quarter. The Hedge Fund company now holds 185,686 shares of AYI which is valued at $50,892,819. Acuity Brands makes up approx 0.06% of Credit Suisse Ag’s portfolio.Tredje Ap-fonden boosted its stake in AYI in the latest quarter, The investment management firm added 1,360 additional shares and now holds a total of 1,820 shares of Acuity Brands which is valued at $498,826. Acuity Brands makes up approx 0.02% of Tredje Ap-fonden’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in AYI by selling 8,225 shares or 6.74% in the most recent quarter. The Hedge Fund company now holds 113,854 shares of AYI which is valued at $29,878,705. Acuity Brands makes up approx 0.54% of Kornitzer Capital Management Inc Ks’s portfolio.Oakbrook Investments boosted its stake in AYI in the latest quarter, The investment management firm added 625 additional shares and now holds a total of 2,575 shares of Acuity Brands which is valued at $682,272. Acuity Brands makes up approx 0.04% of Oakbrook Investments’s portfolio.

Acuity Brands closed down -1.04 points or -0.38% at $274.08 with 1,68,776 shares getting traded on Thursday. Post opening the session at $275.14, the shares hit an intraday low of $272.15 and an intraday high of $275.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Many Wall Street Analysts have commented on Acuity Brands. 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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