Personal Capital Advisors Corp boosted its position in ABM Industries Incorporated (NYSE:ABM) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 59,250 shares of the business services provider’s stock after buying an additional 208 shares during the period. Personal Capital Advisors Corp’s holdings in ABM Industries were worth $2,460,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock worth $105,000 after buying an additional 946 shares in the last quarter. Elkfork Partners LLC raised its position in ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock worth $120,000 after buying an additional 66 shares during the period. Meadow Creek Investment Management LLC raised its position in ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock worth $153,000 after buying an additional 84 shares during the period. Independent Portfolio Consultants Inc. bought a new position in ABM Industries during the second quarter worth $162,000. Finally, PNC Financial Services Group Inc. raised its position in ABM Industries by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock worth $167,000 after buying an additional 236 shares during the period. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
ABM Industries Incorporated (NYSE:ABM) traded down 0.11% during trading on Friday, reaching $44.74. The company’s stock had a trading volume of 190,190 shares. The company has a market capitalization of $2.50 billion, a PE ratio of 198.84 and a beta of 0.78. The company has a 50 day moving average price of $42.25 and a 200-day moving average price of $42.07. ABM Industries Incorporated has a 52 week low of $36.63 and a 52 week high of $45.03.
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 firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. ABM Industries’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. Equities research analysts anticipate that ABM Industries Incorporated will post $1.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Thursday, July 6th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 283.33%.
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A number of research firms have weighed in on ABM. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Monday, June 12th. BidaskClub raised ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Robert W. Baird reissued an “outperform” rating and set a $47.00 price objective (down previously from $49.00) on shares of ABM Industries in a research note on Thursday, July 13th. Finally, Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $55.00 in a research note on Thursday, July 13th. Four equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $48.25.
In other ABM Industries news, insider James P. Mcclure sold 1,970 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $44.01, for a total transaction of $86,699.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rene Jacobsen sold 950 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $43.10, for a total value of $40,945.00. Following the sale, the insider now owns 16,594 shares in the company, valued at approximately $715,201.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,750 shares of company stock worth $372,574. 1.30% of the stock is owned by insiders.
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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