BlackRock Inc. cut its stake in shares of ABM Industries, Inc. (NYSE:ABM) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,815,479 shares of the business services provider’s stock after selling 19,152 shares during the quarter. BlackRock Inc. owned approximately 0.15% of ABM Industries worth $356,791,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in shares of ABM Industries by 1.4% during the first quarter. State of Alaska Department of Revenue now owns 22,315 shares of the business services provider’s stock valued at $811,000 after purchasing an additional 310 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in ABM Industries by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,503 shares of the business services provider’s stock worth $927,000 after buying an additional 461 shares in the last quarter. Piedmont Investment Advisors Inc. grew its holdings in ABM Industries by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 15,676 shares of the business services provider’s stock worth $503,000 after buying an additional 501 shares in the last quarter. Captrust Financial Advisors grew its holdings in ABM Industries by 164.7% in the 4th quarter. Captrust Financial Advisors now owns 863 shares of the business services provider’s stock worth $28,000 after buying an additional 537 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in ABM Industries by 0.7% in the 1st quarter. Arizona State Retirement System now owns 102,138 shares of the business services provider’s stock worth $3,713,000 after buying an additional 727 shares in the last quarter.
In other ABM Industries news, CAO Dean A. Chin sold 8,758 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $37.53, for a total value of $328,687.74. Following the completion of the sale, the chief accounting officer now directly owns 28,644 shares in the company, valued at $1,075,009.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott B. Salmirs sold 10,971 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $37.50, for a total value of $411,412.50. Following the completion of the sale, the insider now owns 157,091 shares of the company’s stock, valued at $5,890,912.50. The disclosure for this sale can be found here. Insiders sold 26,872 shares of company stock valued at $1,003,677 over the last 90 days. 0.94% of the stock is currently owned by insiders.
ABM has been the subject of a number of recent analyst reports. Maxim Group initiated coverage on ABM Industries in a report on Thursday, February 14th. They issued a “buy” rating and a $45.00 price objective for the company. KeyCorp initiated coverage on ABM Industries in a report on Friday, April 5th. They issued a “sector weight” rating and a $36.83 price objective for the company. ValuEngine raised ABM Industries from a “hold” rating to a “buy” rating in a report on Friday, June 7th. Zacks Investment Research raised ABM Industries from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Robert W. Baird set a $37.00 price objective on ABM Industries and gave the stock a “hold” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.46.
Shares of ABM stock opened at $39.62 on Wednesday. ABM Industries, Inc. has a 12-month low of $25.64 and a 12-month high of $41.33. The company has a market capitalization of $2.62 billion, a P/E ratio of 20.96 and a beta of 0.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.50.
ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, June 5th. The business services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. ABM Industries had a return on equity of 8.82% and a net margin of 1.33%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities research analysts forecast that ABM Industries, Inc. will post 1.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be given a $0.18 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. ABM Industries’s dividend payout ratio (DPR) is 38.10%.
About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.
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