Seaward Management Limited Partnership maintained its stake in ABM Industries Incorporated (NYSE:ABM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,000 shares of the business services provider’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in ABM Industries were worth $207,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its stake in ABM Industries by 8.8% in the second quarter. Sei Investments Co. now owns 34,940 shares of the business services provider’s stock worth $1,450,000 after buying an additional 2,816 shares during the last quarter. Texas Permanent School Fund boosted its stake in ABM Industries by 1.1% in the second quarter. Texas Permanent School Fund now owns 40,649 shares of the business services provider’s stock worth $1,688,000 after buying an additional 437 shares during the last quarter. Rothschild Asset Management Inc. boosted its stake in ABM Industries by 4.9% in the second quarter. Rothschild Asset Management Inc. now owns 280,164 shares of the business services provider’s stock worth $11,632,000 after buying an additional 13,087 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in ABM Industries by 3.7% in the second quarter. Great West Life Assurance Co. Can now owns 80,849 shares of the business services provider’s stock worth $3,354,000 after buying an additional 2,888 shares during the last quarter. Finally, NGAM Advisors L.P. purchased a new stake in ABM Industries during the second quarter worth approximately $2,756,000. 93.28% of the stock is owned by institutional investors.
Shares of ABM Industries Incorporated (ABM) opened at 44.26 on Thursday. ABM Industries Incorporated has a 52-week low of $37.47 and a 52-week high of $45.12. The stock has a market cap of $2.47 billion, a PE ratio of 196.71 and a beta of 0.80. The company’s 50-day moving average is $42.96 and its 200-day moving average is $42.34.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, June 7th. The business services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. ABM Industries had a net margin of 0.25% and a return on equity of 11.44%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. Equities analysts anticipate that ABM Industries Incorporated will post $1.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.54%. ABM Industries’s payout ratio is 283.33%.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised shares of ABM Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Robert W. Baird reissued an “outperform” rating and set a $47.00 target price (down previously from $49.00) on shares of ABM Industries in a research report on Thursday, July 13th. Finally, Sidoti raised shares of ABM Industries from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $55.00 in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. ABM Industries has an average rating of “Buy” and a consensus price target of $48.25.
In other news, insider Rene Jacobsen sold 940 shares of ABM Industries stock in a transaction on Monday, July 10th. The shares were sold at an average price of $40.92, for a total value of $38,464.80. Following the transaction, the insider now directly owns 22,729 shares of the company’s stock, valued at approximately $930,070.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Mcclure sold 1,970 shares of ABM Industries stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $40.87, for a total transaction of $80,513.90. The disclosure for this sale can be found here. Insiders sold a total of 7,793 shares of company stock worth $334,667 over the last ninety days. Corporate 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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