Prudential Financial Inc. boosted its position in shares of ABM Industries Inc. (NYSE:ABM) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 136,802 shares of the company’s stock after buying an additional 2,440 shares during the period. Prudential Financial Inc. owned 0.24% of ABM Industries worth $4,991,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in ABM. Hillcrest Asset Management LLC purchased a new stake in ABM Industries during the first quarter worth $10,624,000. Aberdeen Asset Management PLC UK raised its stake in ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock worth $17,036,000 after buying an additional 214,644 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 during the last quarter. Emerald Acquisition Ltd. purchased a new stake in ABM Industries during the second quarter worth $3,041,000. Finally, SECOR Capital Advisors LP raised its stake in ABM Industries by 188.0% in the second quarter. SECOR Capital Advisors LP now owns 111,733 shares of the company’s stock worth $4,076,000 after buying an additional 72,934 shares during the last quarter. 90.56% of the stock is owned by institutional investors and hedge funds.
ABM Industries Inc. (NYSE:ABM) opened at 38.08 on Friday. ABM Industries Inc. has a 12-month low of $26.50 and a 12-month high of $40.47. The stock has a 50 day moving average of $38.98 and a 200 day moving average of $35.95. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 24.63 and a beta of 0.75.
ABM Industries (NYSE:ABM) last posted its 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. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. Equities research analysts anticipate that ABM Industries Inc. will post $1.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.
ABM has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of ABM Industries from a “buy” rating to a “sell” rating in a report on Tuesday, August 9th. Robert W. Baird reissued an “outperform” rating and set a $40.00 price objective on shares of ABM Industries in a report on Wednesday, August 31st. Finally, Imperial Capital raised their price objective on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$32.05.
In other news, insider Scott J. Giacobbe sold 13,700 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of C$39.33, for a total value of C$538,821.00. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at C$1,312,953.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah H. Mcconnell sold 8,322 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of C$39.83, for a total transaction of C$331,465.26. Following the completion of the sale, the executive vice president now owns 66,429 shares of the company’s stock, valued at C$2,645,867.07. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company 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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