Acuity Brands, Inc. (NYSE:AYI) is looking for acquisitions. During the company?s fiscal 2024 second quarter earnings call, Karen Holcom, Senior Vice President and Chief Financial Officer said that ? 'When we look at our capital allocation priorities, we've been really clear over time that it's first to invest in the business for growth, second to invest in M&A, which we've done.

Over the past few years, we've made some small but -- relatively small but strategic acquisitions with OPTOTRONIC with KE2 Therm and now with the Arize horticulture assets. So really pleased with the progress we've made there. Maybe you noticed we did increase our dividend by 15% this quarter.

So excited to see that increase?. Neil Ashe, Chairman, President, and Chief Executive Officer said that ?So, we feel really good about the -- our ability to generate value through capital allocation. So first, on the M&A pipeline, we -- our focus continues to be on expanding the Intelligence Spaces group.

We have a good pipeline of both small, medium and large-sized acquisitions?.