Goldman Sachs Group Inc. raised its position in ABM Industries, Inc. (NYSE:ABM) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,438,303 shares of the business services provider’s stock after purchasing an additional 299,019 shares during the quarter. Goldman Sachs Group Inc. owned 0.10% of ABM Industries worth $242,853,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ABM. ArrowMark Colorado Holdings LLC purchased a new position in shares of ABM Industries in the fourth quarter valued at about $50,698,000. Channing Capital Management LLC increased its position in shares of ABM Industries by 25.2% in the fourth quarter. Channing Capital Management LLC now owns 1,833,221 shares of the business services provider’s stock valued at $69,149,000 after acquiring an additional 369,363 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of ABM Industries by 62.7% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 798,509 shares of the business services provider’s stock valued at $30,120,000 after acquiring an additional 307,846 shares during the period. Sunriver Management LLC increased its position in shares of ABM Industries by 66.8% in the fourth quarter. Sunriver Management LLC now owns 734,210 shares of the business services provider’s stock valued at $27,694,000 after acquiring an additional 294,010 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of ABM Industries by 1,354.9% in the third quarter. Allianz Asset Management GmbH now owns 301,971 shares of the business services provider’s stock valued at $12,595,000 after acquiring an additional 281,216 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.
A number of research firms have issued reports on ABM. TheStreet cut shares of ABM Industries from a “b” rating to a “c+” rating in a research report on Friday, December 29th. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Tuesday, February 13th. Finally, Robert W. Baird restated an “outperform” rating and issued a $40.00 price objective (up previously from $39.00) on shares of ABM Industries in a research report on Thursday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. ABM Industries has a consensus rating of “Buy” and an average target price of $45.75.
ABM Industries (NYSE:ABM) last announced its earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. sell-side analysts forecast that ABM Industries, Inc. will post 1.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, April 4th. ABM Industries’s payout ratio is 46.98%.
In other news, Director Linda Chavez sold 2,103 shares of ABM Industries stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $38.89, for a total transaction of $81,785.67. Following the sale, the director now owns 16,557 shares of the company’s stock, valued at approximately $643,901.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
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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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