Marshall Wace North America L.P. acquired a new position in ABM Industries Incorporated (NYSE:ABM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,212 shares of the business services provider’s stock, valued at approximately $261,000.
Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock worth $105,000 after purchasing an additional 946 shares during the period. Elkfork Partners LLC increased its position in ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock worth $120,000 after purchasing an additional 66 shares during the period. Meadow Creek Investment Management LLC increased its position in ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock worth $153,000 after purchasing an additional 84 shares during the period. Independent Portfolio Consultants Inc. acquired a new stake in ABM Industries in the second quarter worth about $162,000. Finally, PNC Financial Services Group Inc. increased its position in ABM Industries by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock worth $167,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 91.49% of the company’s stock.
ABM Industries Incorporated (NYSE ABM) opened at 39.56 on Friday. ABM Industries Incorporated has a one year low of $37.12 and a one year high of $45.12. The company has a market cap of $2.21 billion, a PE ratio of 175.82 and a beta of 0.79. The firm’s 50-day moving average price is $43.29 and its 200-day moving average price is $42.75.
ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. On average, equities research analysts forecast that ABM Industries Incorporated will post $1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Thursday, October 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.72%. ABM Industries’s payout ratio is 251.86%.
A number of analysts recently commented on ABM shares. Robert W. Baird set a $50.00 price objective on ABM Industries and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Monday, June 12th. Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $55.00 in a research report on Thursday, July 13th. Finally, BidaskClub upgraded ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.20.
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In other news, insider Rene Jacobsen sold 940 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $40.92, for a total value of $38,464.80. Following the completion of the sale, the insider now owns 22,729 shares of the company’s stock, valued at $930,070.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dean A. Chin sold 632 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total value of $28,408.40. The disclosure for this sale can be found here. In the last three months, insiders sold 17,099 shares of company stock valued at $699,995. Insiders own 1.30% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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