NGAM Advisors L.P. bought a new position in ABM Industries Incorporated (NYSE:ABM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,372 shares of the business services provider’s stock, valued at approximately $2,756,000.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in ABM Industries by 35,805.5% in the first quarter. BlackRock Inc. now owns 7,121,861 shares of the business services provider’s stock worth $310,513,000 after buying an additional 7,102,026 shares during the last quarter. State Street Corp raised its stake in ABM Industries by 236.6% in the first quarter. State Street Corp now owns 4,414,087 shares of the business services provider’s stock worth $192,454,000 after buying an additional 3,102,800 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in ABM Industries during the second quarter worth $30,970,000. Vanguard Group Inc. raised its stake in ABM Industries by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,261,484 shares of the business services provider’s stock worth $229,401,000 after buying an additional 333,410 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in ABM Industries by 332.4% in the first quarter. Teachers Advisors LLC now owns 407,119 shares of the business services provider’s stock worth $17,750,000 after buying an additional 312,972 shares during the last quarter. Institutional investors and hedge funds own 93.28% of the company’s stock.
ABM Industries Incorporated (NYSE:ABM) opened at 43.68 on Friday. ABM Industries Incorporated has a 52-week low of $37.47 and a 52-week high of $45.12. The company has a market cap of $2.44 billion, a P/E ratio of 194.13 and a beta of 0.80. The stock’s 50 day moving average price is $43.03 and its 200-day moving average price is $42.35.
ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. On average, equities analysts predict that ABM Industries Incorporated will post $1.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors 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 annualized dividend and a dividend yield of 1.56%. ABM Industries’s dividend payout ratio is presently 283.33%.
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A number of analysts have weighed in on ABM shares. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Robert W. Baird set a $50.00 price target on ABM Industries and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $55.00 in a research report on Thursday, July 13th. Finally, BidaskClub raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. ABM Industries currently has an average rating of “Buy” and a consensus price target of $48.25.
In related news, SVP Dean A. Chin sold 632 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James P. Mcclure sold 1,970 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $44.01, for a total value of $86,699.70. The disclosure for this sale can be found here. Insiders sold a total of 8,925 shares of company stock worth $385,575 in the last quarter. Company 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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