Keybank National Association OH lessened its holdings in shares of ABM Industries Incorporated (NYSE:ABM – Get Rating) by 40.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,340 shares of the business services provider’s stock after selling 6,265 shares during the quarter. Keybank National Association OH’s holdings in ABM Industries were worth $430,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of ABM. Russell Investments Group Ltd. grew its stake in ABM Industries by 1.1% during the 4th quarter. Russell Investments Group Ltd. now owns 137,160 shares of the business services provider’s stock valued at $5,601,000 after acquiring an additional 1,439 shares in the last quarter. Trust Co. of Vermont purchased a new position in ABM Industries during the 4th quarter valued at about $47,000. Creative Financial Designs Inc. ADV grew its stake in ABM Industries by 6.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,284 shares of the business services provider’s stock valued at $338,000 after acquiring an additional 510 shares in the last quarter. Verdence Capital Advisors LLC purchased a new position in ABM Industries during the 4th quarter valued at about $325,000. Finally, Van ECK Associates Corp grew its stake in ABM Industries by 23.8% during the 4th quarter. Van ECK Associates Corp now owns 58,124 shares of the business services provider’s stock valued at $2,374,000 after acquiring an additional 11,160 shares in the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.
Insiders Place Their Bets
In other ABM Industries news, CAO Dean A. Chin sold 3,657 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $48.13, for a total transaction of $176,011.41. Following the completion of the sale, the chief accounting officer now owns 26,052 shares of the company’s stock, valued at $1,253,882.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ABM Industries news, EVP Joshua H. Feinberg purchased 6,330 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was bought at an average cost of $39.16 per share, for a total transaction of $247,882.80. Following the completion of the acquisition, the executive vice president now directly owns 63,048 shares in the company, valued at $2,468,959.68. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Dean A. Chin sold 3,657 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $48.13, for a total value of $176,011.41. Following the transaction, the chief accounting officer now owns 26,052 shares of the company’s stock, valued at $1,253,882.76. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Analyst Ratings Changes
ABM has been the topic of several research analyst reports. Robert W. Baird raised ABM Industries from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft boosted their price target on ABM Industries from $62.00 to $65.00 in a research note on Wednesday, April 20th. TheStreet cut ABM Industries from a “b” rating to a “c+” rating in a research note on Wednesday, July 6th. Finally, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ABM Industries presently has an average rating of “Moderate Buy” and a consensus target price of $56.67.
ABM Industries Trading Up 0.2 %
Shares of NYSE ABM opened at $43.79 on Thursday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 20.56 and a beta of 1.10. The business has a 50 day simple moving average of $44.18 and a 200 day simple moving average of $44.69. ABM Industries Incorporated has a 52 week low of $38.08 and a 52 week high of $54.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.18 and a current ratio of 1.18.
ABM Industries (NYSE:ABM – Get Rating) last announced its earnings results on Wednesday, June 8th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. ABM Industries had a return on equity of 14.99% and a net margin of 2.06%. The company’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, research analysts predict that ABM Industries Incorporated will post 3.65 earnings per share for the current fiscal year.
ABM Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Thursday, July 7th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $0.78 dividend on an annualized basis and a yield of 1.78%. ABM Industries’s payout ratio is currently 36.62%.
ABM Industries Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.
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