Tower Research Capital LLC TRC boosted its position in shares of ABM Industries Inc. (NYSE:ABM) by 3,982.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,082 shares of the company’s stock after buying an additional 3,982 shares during the period. Tower Research Capital LLC TRC’s holdings in ABM Industries were worth $149,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Group LTD increased its position in ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock worth $3,591,000 after buying an additional 6,235 shares in the last quarter. Creative Planning increased its position in ABM Industries by 3.7% in the second quarter. Creative Planning now owns 14,310 shares of the company’s stock worth $522,000 after buying an additional 510 shares in the last quarter. JPMorgan Chase & Co. increased its position in ABM Industries by 33.0% in the second quarter. JPMorgan Chase & Co. now owns 508,481 shares of the company’s stock worth $18,550,000 after buying an additional 126,094 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in ABM Industries by 35.2% in the first quarter. UBS Asset Management Americas Inc. now owns 107,670 shares of the company’s stock worth $3,478,000 after buying an additional 28,022 shares in the last quarter. Finally, BlackRock Inc. increased its position in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock worth $170,000 after buying an additional 1,591 shares in the last quarter. 90.56% of the stock is currently owned by institutional investors.
Shares of ABM Industries Inc. (NYSE:ABM) opened at 38.78 on Friday. ABM Industries Inc. has a 12 month low of $26.50 and a 12 month high of $40.47. The firm has a 50-day moving average price of $38.96 and a 200-day moving average price of $35.79. The stock has a market cap of $2.16 billion, a PE ratio of 25.08 and a beta of 0.75.
ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.14. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $0.47 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that ABM Industries Inc. will post $1.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.70%. ABM Industries’s dividend payout ratio is presently 42.58%.
ABM has been the topic of a number of recent research reports. Robert W. Baird reissued an “outperform” rating and issued a $40.00 target price on shares of ABM Industries in a report on Wednesday, August 31st. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Friday, September 9th. Finally, Imperial Capital increased their target price on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$32.05.
In related news, insider Scott J. Giacobbe sold 13,700 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of C$39.33, for a total transaction of C$538,821.00. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at approximately C$1,312,953.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott J. Giacobbe sold 5,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of C$36.86, for a total value of C$184,300.00. Following the transaction, the insider now owns 37,807 shares in the company, valued at C$1,393,566.02. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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