Cubist Systematic Strategies LLC grew its position in ABM Industries, Inc. (NYSE:ABM) by 50.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,570 shares of the business services provider’s stock after purchasing an additional 8,251 shares during the period. Cubist Systematic Strategies LLC’s holdings in ABM Industries were worth $717,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of ABM Industries by 61.8% in the second quarter. Bank of America Corp DE now owns 1,766,838 shares of the business services provider’s stock valued at $51,557,000 after purchasing an additional 675,127 shares during the last quarter. BRYN MAWR TRUST Co raised its holdings in shares of ABM Industries by 2.3% in the second quarter. BRYN MAWR TRUST Co now owns 214,362 shares of the business services provider’s stock valued at $6,254,000 after purchasing an additional 4,885 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of ABM Industries by 5.3% in the second quarter. Voya Investment Management LLC now owns 780,359 shares of the business services provider’s stock valued at $22,772,000 after purchasing an additional 39,559 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ABM Industries in the second quarter valued at about $1,093,000. Finally, OppenheimerFunds Inc. raised its holdings in shares of ABM Industries by 22.9% in the second quarter. OppenheimerFunds Inc. now owns 117,520 shares of the business services provider’s stock valued at $3,429,000 after purchasing an additional 21,928 shares during the last quarter.
In related news, SVP Dean A. Chin sold 5,682 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $33.60, for a total transaction of $190,915.20. Following the completion of the sale, the senior vice president now owns 32,847 shares in the company, valued at $1,103,659.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott B. Salmirs sold 6,239 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $33.98, for a total transaction of $212,001.22. Following the sale, the insider now owns 120,693 shares of the company’s stock, valued at approximately $4,101,148.14. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, September 6th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. ABM Industries had a net margin of 1.34% and a return on equity of 7.75%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. equities research analysts anticipate that ABM Industries, Inc. will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Thursday, October 4th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, October 3rd. This represents a $0.70 dividend on an annualized basis and a yield of 2.07%. ABM Industries’s dividend payout ratio (DPR) is presently 40.00%.
Several analysts have recently commented on ABM shares. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of ABM Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, June 7th. TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b-” rating in a report on Friday, September 14th. Finally, Robert W. Baird downgraded shares of ABM Industries from an “outperform” rating to a “neutral” rating and increased their target price for the company from $36.00 to $40.00 in a report on Thursday, August 23rd. They noted that the move was a valuation call.
ABM Industries Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.
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