Dudley & Shanley LLC cut its stake in ABM Industries Inc. (NYSE:ABM) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 681,050 shares of the company’s stock after selling 4,950 shares during the period. ABM Industries comprises approximately 5.7% of Dudley & Shanley LLC’s investment portfolio, making the stock its 6th largest position. Dudley & Shanley LLC’s holdings in ABM Industries were worth $24,845,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock worth $114,480,000 after buying an additional 29,711 shares in the last quarter. State Street Corp increased its position in shares of ABM Industries by 1.9% in the first quarter. State Street Corp now owns 1,137,054 shares of the company’s stock worth $36,737,000 after buying an additional 20,920 shares in the last quarter. Hillcrest Asset Management LLC acquired a new position in shares of ABM Industries during the first quarter worth about $10,624,000. Prudential Financial Inc. increased its position in shares of ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock worth $4,341,000 after buying an additional 3,600 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of 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. Institutional investors own 90.54% of the company’s stock.
ABM Industries Inc. (NYSE:ABM) traded up 0.13% during mid-day trading on Monday, reaching $37.87. The company’s stock had a trading volume of 235,361 shares. The stock has a market cap of $2.11 billion, a P/E ratio of 24.50 and a beta of 0.75. The firm’s 50 day moving average is $38.97 and its 200-day moving average is $35.99. ABM Industries Inc. has a one year low of $26.50 and a one year high of $40.47.
ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.40 by $0.14. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The business earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue was down 3.8% on a year-over-year basis. Equities analysts expect that ABM Industries Inc. will post $1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s payout ratio is 42.58%.
ABM has been the topic of a number of research analyst reports. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “sell” rating in a report on Tuesday, August 9th. Robert W. Baird restated an “outperform” rating and set a $44.00 price target on shares of ABM Industries in a report on Saturday, September 10th. Finally, Imperial Capital boosted their price target 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. The company has an average rating of “Buy” and a consensus price target of C$32.05.
In related news, EVP Sarah H. Mcconnell sold 8,322 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of C$39.83, for a total value of C$331,465.26. Following the completion of the transaction, the executive vice president now owns 66,429 shares of the company’s stock, valued at approximately C$2,645,867.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott J. Giacobbe sold 1,300 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of C$39.02, for a total transaction of C$50,726.00. Following the completion of the transaction, the insider now directly owns 34,183 shares of the company’s stock, valued at approximately C$1,333,820.66. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate 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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